MediPharm Labs Corp. (TSXV:LABS, OTC:MLCPF, FWB:MLZ)(the “Company”) announces that it has completed its initial public offering through its agent, Haywood Securities Inc. (“Haywood”), of 2,000,000 common shares of the Company at a price of $0.10 per common share for total gross proceeds of $200,000 pursuant to a prospectus dated December 17, 2018 filed with the British Columbia and Alberta Securities Commissions.
The Company has received final acceptance to be listed as a Capital Pool Company (CPC) on the TSX Venture Exchange (the “TSXV”). The common shares of the Company are expected to commence trading on the TSXV at the opening of market on or about March 15, 2019 under the trading symbol “LABS.P”.
As consideration for its role as agent, the Company granted to Haywood a non-transferable option (the “Agent’s Option”) to purchase up to 200,000 common shares of the Company at a price of $0.10 per common share for a period of 24 months until March 13, 2021. In addition, Haywood received a cash commission in an amount equal to 10% of the gross proceeds of the initial public offering, a work fee of $10,000 and reimbursement of certain expenses.
Upon closing of the initial public offering, the Company also granted 570,000 incentive stock options to its directors and officers which are exercisable for a period of five years at an exercise price of $0.10 per share.
As a result of the closing of the initial public offering, the Company now has 5,700,000 common shares issued and outstanding (3,700,000 of which are subject to escrow restrictions in accordance with TSXV policies), 200,000 reserved for issuance upon the exercise of the Agent’s Option, and 570,000 common shares reserved for issuance upon the exercise of incentive stock options. The escrowed shares will be released in staged releases over a period of 36 months from the completion of the qualifying transaction.
The Company’s board of directors and management team is comprised of: Doron Cohen (Chief Executive Officer and Director), Noah Herscovici (Chief Financial Officer, Secretary and Director), Michael Mire (Director), Bruce Rowlands (Director) and Konstantin Lichtenwald (Director).
About the Company
The Company is designated as a Capital Pool Company (CPC) by the TSXV. The Company has not commenced commercial operations and has no assets other than cash. The only business of the Company is the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction” in accordance with TSXV Policy 2.4 – Capital Pool Companies. The funds raised under the initial public offering will be used to pursue such Qualifying Transaction. For further information regarding the Company, the offering, and the Company’s management team, see the prospectus filed with the Company’s disclosure documents on SEDAR at www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Executive Officer
Telephone: (972) 545-224-017
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Forward-looking statements in this news release include, but are not limited to, the ability of the Company to complete a qualifying transaction. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or