Wildflower Announces Private Placement
VANCOUVER, British Columbia, May 9, 2016: Wildflower Marijuana Inc. (CSE: SUN) (the "Company") is pleased to announce a private placement of up to 4,333,327 units (“Units”) at a price of C$0.10 per Unit for aggregate gross proceeds of $433,332.
Each Unit shall consist of one common share of the Issuer and one half of one share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire one common share of the Company at a price of $0.15 for a period of 24 months following the closing date of the private placement. Once resale restrictions on the Shares having expired and upon Company’s shares trading at or above a weighted average trading price of $0.60 for 30 consecutive trading days, Wildflower may give notice that the Warrants will expire 30 days from the date of providing such notice (in writing to Warrant holders and via a news release). The proceeds will be used for inventory, product development and working capital. The financing is subject to regulatory approval. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing.
ABOUT WILDFLOWER MARIJUANA INC.
Wildflower is a cannabis company focused on developing and designing branded products in the cannabis and healthcare sectors. We develop proprietary product lines using THC or CBD by taking traditional herbal medicines and applying the most advanced science, technology and know-how to create quality products for the health conscious consumer. Wildflower works exclusively in jurisdictions where cannabis is legal or regulated.
On Behalf of the Board of Directors
Director and CEO