CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) (“CROP” or the “Company”) announces that it has closed the previously announced non-brokered private placement for gross proceeds of $1,610,000. (See news release dated July 31, 2018) by issuance of an aggregate of 5,366,667 units. Each $0.30 unit consists of one common share (“Common Shares”) of CROP and one common share purchase warrant (“Warrant”) where each whole Warrant entitles the holder to purchase one additional common share (“Warrant Share”) at an exercise price of $0.50 per Warrant Share for a period of twenty four months following the date of issuance.
The company paid no commissions in conjunction with the financing.
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP”. CROP is engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes facilities in California, 2 in Washington State, Nevada, Italy and now Jamaica.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities issuable thereunder and the Transaction are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the proceeds to be raised pursuant to the Offering, availability of exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 and the expected uses of the funds advanced under the Loan by The Park. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Offering and the uses of the funds advanced under the Loan by The Park, including the risk that the Offering may not be completed as expected or at all, that the proceeds of the Offering may be used other than as set out in this news release, that the funds advanced under the Loan by The Park may be used other than as set out in this news release and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the content of this press release.