2016-01-04 - For Immediate Release
Vancouver - True Leaf Medicine International Ltd. (CSE: MJ) has arranged a non-brokered private placement of up to 2.142.857 units at a subscription price of $0.10.5 per unit to eligible subscribers for gross proceeds of up to $225,000.
Each unit will consist of one common share and one half-share purchase warrant. A whole warrant can be redeemed for one additional common share of the company at $ 0.15 cents per warrant share for a period of 24 months from the closing.
The common shares issued or issuable pursuant to the private placement will be restricted from trading for a four-month hold period in accordance with applicable securities laws and, if required, the policies of the exchange.
The proceeds of this private placement will be used to facilitate a move to a larger-scale manufacturing facility in Ontario, Canada and used as general working capital.
About True Leaf Medicine International Ltd.:
True Leaf Medicine International Ltd. is entering the $60 billion pet industry with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada and the US. The company has also filed an application under Health Canada’s Marihuana for Medicinal Purposes Regulations (MMPR) to become a Canadian licensed producer. It has passed through the preliminary and enhanced screening process of Health Canada’s review and is currently awaiting security clearance.
Kevin Bottomley, Director
True Leaf Medicine International Ltd.
M: +1 778 389 9933
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS 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 various risk factors 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.