True Leaf Medicine International Ltd.
True Leaf announces Private Placement
DGAP-News: True Leaf Medicine International Ltd. / Key word(s): Capital Increase/Investment Vancouver, BC, October 20, 2016 – True Leaf Medicine International Ltd. (the “Company“) (CSE: MJ) (Frankfurt: TLA, WKN: A14NM1) is pleased to announce that it intends to complete a non-brokered private placement of up to 9,523,809 common shares at a price of C$0.21 per common share for aggregate gross proceeds of up to C$2,000,000 (the “Offering”). All or a portion of the Offering may be completed pursuant to Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer (“CSA 45-318”) and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the “Investment Dealer Exemption”). In order for the Company to be able to rely on the Investment Dealer Exemption, each subscriber must purchase the shares as principal and obtain advice regarding the suitability of the investment from a person that is registered as an investment dealer in the jurisdiction in which the subscriber is resident. The Company intends to use the proceeds of the Offering as follows: – $750,000 for advertising and marketing costs at retail, wholesale and consumer levels, digital marketing and trade show attendance; – $750,000 for working capital and the purchase of inventory; and – $500,000 for new product development, formulation development, pilot trials, contract research and evaluation of potential acquisition targets. There is no material fact or material change about the Company that has not been generally disclosed. There is no minimum subscription amount for the Offering, and each common share issued pursuant to the Offering will be subject to a four month and one day hold period in accordance with applicable securities laws. The Company may pay a finder’s fee to eligible persons equal to 8% of the gross proceeds raised from applicable subscribers in the Offering either in the form of cash or common shares. About True Leaf Medicine International Ltd. For more information, please see the Company’s website at www.trueleaf.com. Contact: NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE. FORWARD LOOKING INFORMATION This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.
2016-10-20 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | True Leaf Medicine International Ltd. | |
32 – 100 Kalamalka Lake Road | ||
V1T 9 G1 Vernon (BC) | ||
Canada | ||
Phone: | +17783899933 | |
E-mail: | kevin@trueleaf.com | |
Internet: | www.trueleaf.com | |
ISIN: | CA89785C1077, CA89785C1077 | |
WKN: | , A0Q3EE | |
Listed: | Regulated Unofficial Market in Berlin, Munich, Stuttgart; Open Market in Frankfurt ; Canadian Venture Exchange | |
End of News | DGAP News Service |