Home Greenhouse Private placement without intermediary up to $ 8,000,000

Private placement without intermediary up to $ 8,000,000

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Greenway Greenhouse Cannabis Corporation (CNW Group / Greenway Greenhouse Cannabis Corporation)

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KINGSVILLE, ON, 23 November 2021 / CNW / – Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (“Greenway” or the “Company”) is pleased to announce its intention to sell, in a non-middleman private placement, up to 7,272 727 units (the “”Units“) in the Company’s capital at an issue price of $ 1.10 per Share for a total gross product of up to $ 8,000,000 (the “Offer“).

Each unit will consist of one common share of the capital of the Company (each, an “ordinary share”) and one common share subscription warrant (each a “subscription warrant”), each warrant may be exercised for one common share at an exercise price of $ 1.65 for a period of nine (9) months from the date of issue, subject to adjustment based on certain customary events.

The Offer is expected to close on or before December 15, 2021. The securities issued under the Offer will be subject to a legal holding period of four months and one day.

The Company has entered into an exclusive tax advisory agreement with Abingdon Capital Corporation (“Abingdon”), an exempt market dealer, to advise the Company on this private placement as well as for ongoing financial market advice.

The net proceeds of the placement are intended to be used for capital expenditures for additional greenhouse space, general working capital requirements and other business purposes. Subject to the minimum requirements of the Canadian Securities Exchange (the “CSE”), the Company has agreed to use reasonable commercial efforts to list the warrants on the CSE at the end of the legal holding period of four months applicable.

Darren Peddle, Director and CFO, said:

“We are pleased to offer the private placement to existing and new shareholders of the Company, in order to broaden the shareholder base and increase the profile of the Company. As a new public company, we are delighted with the welcome from public investors and look forward to advancing our business plan with the net proceeds of this offering. “

Closing of the Offer is subject to certain conditions, including, but not limited to, receipt of approval from the CSE.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in United States nor will there be any sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities law and cannot be offered or sold in United States unless registered under the 1933 Act and any applicable securities laws of any state of United States or an applicable exemption from the registration requirements is available.

About the green lane

Greenway Greenhouse Cannabis Corporation (“Greenway”) is a federally licensed cultivator for the Canadian cannabis market. Greenway is headquartered at Kingsville, Ontario, and leverages his expertise in agriculture and cannabis in his aspiration to be one of the leading cannabis growers in Canada. Updates can be followed on Instagram, Twitter, Facebook, and LinkedIn.

The CSE has in no way recognized the merits of the Company’s business and has neither approved nor disapproved of the contents of this press release and accepts no responsibility for the adequacy or accuracy of that -this.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements that constitute forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements in this press release that are not statements of purely historical fact are forward-looking statements and include statements regarding the offer and intended use of the proceeds thereof, as well as beliefs, plans , expectations, future, strategy, objectives, goals and targets, development of future operations and directions for the future as of the date of this press release. Although the Company believes that these statements are reasonable and reflect expectations of future developments and other factors that management considers reasonable and relevant, the Company cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally identified by words such as: “believe”, “expects”, “objective”, “anticipates”, “intend”, “believes”, “plans”, “could” , “,” will “,” potential “,” expected “or variations of such words and expressions and similar expressions, which by their nature refer to future events or results which could, could, would occur, could or will occur or be taken or affected.

Forward-looking statements involve risks, assumptions, uncertainties and other known and unknown factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the statements. prospective, and includes the risks described in the final prospectus of the Company dated September 3, 2021, a copy of which is available under the Company profile at www.sedar.com. Forward-looking statements are made as of the date of this press release and, unless required by applicable law, the Company assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. forward-looking statements.

SOURCE Greenway Greenhouse Cannabis Corporation

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