WeedMD Inc. (TSXV:WMD) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical cannabis, is pleased to announce that it has closed its previously announced short form prospectus offering, including the full exercise of the over-allotment option. As such, a total of 16,046,511 units of the Company (“Units”) were sold at a price of $2.15 per Unit (the “Issue Price”) for aggregate gross proceeds of $34,500,000 (the “Offering”). The Offering was completed by a syndicate of underwriters including Eight Capital as sole bookrunner and co-lead underwriter with Mackie Research Capital Corporation and including Haywood Securities Inc. (the “Underwriters”).

Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $2.90, until January 11, 2020. If, following the closing of the Offering, the volume weighted average price of the Common Shares on the TSX Venture Exchange is equal to or greater than $4.20 for any 20 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

As consideration for its services, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering. The Company also issued 481,395 compensation options to the Underwriters in an amount equal to 3% of the number of Units issued pursuant to the Offering. Each compensation option is exercisable into one Unit at the Issue Price, until January 11, 2020.

The Company intends to use the net proceeds of the Offering to expand its lease footprint and retrofitting plans and operations at its 14-acre Strathroy Greenhouse, to purchase and further develop its Aylmer Facility, to pursue potential strategic domestic and international opportunities and for working capital and general corporate purposes. For more about the expansion, read here.

The Units were offered and sold by way of a short form prospectus filed in each of the provinces of Canada, excluding Quebec, and offered and sold elsewhere outside of Canada on a private placement basis.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the 1933 Act or an applicable exemption from such registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. “United States” and “U.S. person” are as defined in Regulation S under the 1933 Act.

About WeedMD Inc.:

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 26,000 sq. ft. indoor facility in Aylmer, ON, and is awaiting its second-site cultivation license for its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. The Company is focused on providing medical cannabis to the senior’s market including long-term care and assisted living markets in Canada through its proprietary implementation platform. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.

Follow WeedMD On:

Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company-beta/5020743/
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/

For further information, please contact:

WeedMD Inc.
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
Email: investor@weedmd.com
To learn more, visit us at www.weedmd.com
For Media Inquiries:
Marianella delaBarrera
Margin Communications & Public Relations
Tel: 416-897-6644
Email: marianella@marginpr.com

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the intended use of proceeds, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS

 

Click here to connect with WeedMD Inc. (TSXV:WMD) for an Investor Presentation.

Source: www.globenewswire.com

Centurion to acquire a Disruptive Water-Soluble Cannabinoid Technology Platform Delivering Rapid Onset, Increased Bioavailability, Premium Taste Profiles and Highly Competitive Cost Structure

Centurion Minerals Ltd. (TSXV: CTN) (FSE: XJCB) (“Centurion” or the “Company”) is pleased to announce that it has entered into an Amalgamation Agreement dated February 17, 2021 (the “Agreement”), with HAI Beverages Inc. (“HAI”), whereby Centurion will acquire 100% of the outstanding shares and assets of a wholly-owned subsidiary of HAI (“NewHAI) in exchange for common shares of Centurion (the “Acquisition” or “Transaction”). NewHAI holds all material assets of HAI and the Acquisition will constitute a reverse take-over (“RTO”) of the Company.

Keep reading... Show less

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 its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less