Wildflower Closes $1.8M Financing
VANCOUVER, British Columbia, March 13, 2019 – via NetworkWire: Wildflower Brands Inc. (CSE: SUN) (the “Company”) announces it has closed its previously announced private placement of units (“Units”) at a price of C$0.54 per Unit for aggregate gross proceeds of up to $1,882,000. Each Unit consists 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 $0.85 for a period of 24 months. Once resale restrictions on the Shares have expired and upon Company’s shares trading at or above a weighted average trading price of $1.50 for 20 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 of the financing will be used to fund the build out of the Company’s manufacturing capability in Washington state to meet the increasing demand for Wildflower products and for general working capital.
The securities issued are subject to a four-month hold period. A finder’s fee will be paid on a portion of the funds raised including to Industrial Alliance Securities.
ABOUT WILDFLOWER BRANDS
Wildflower Brands is a company headquartered in Vancouver building reputable brands
and quality products that incorporate the synergistic effects of plants and their extracts.
On Behalf of the Board of Directors
Director and CEO
Cautionary and Forward-Looking Statements
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. Forward‐looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the marijuana industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
The Canadian Securities Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.