Wildflower Arranges Private Placement
VANCOUVER, British Columbia, October 21, 2015: Wildflower Marijuana Inc. (CSE: SUN) (FWB: RSP) (the "Company”) announces a private placement of up to 1,500,000 (“Units”) at a price of C$0.10 per Unit for aggregate gross proceeds of $150,000 (the “Offering”).
Each Unit shall consist of one common share of the Issuer and 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 Offering. Once resale restrictions on the Shares having expired and upon Company’s shares trading at or above a weighted average trading price of $0.25 for 15 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 primarily used for 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.
Proceeds from the Offering will be used for working capital and other business opportunities in the cannabis industry. The Company may pay a finder’s fee in accordance with regulatory guidelines. The Placement is subject to regulatory approval.
On Behalf of the Board of Directors