THC.CSE | THCBF – OTC | TFHC.F
Vancouver, B.C. –(October 22, 2020) THC BioMed Intl Ltd.(CSE: THC), (“THC BioMed” or the “Company”) announces that it intends to conduct a private placement of approximately $1,500,000. Is has completed the first tranche of the private placement in which the Company issued 1,363,637units (“Units”) at a price of $0.11per Unit, for total proceeds of $150,000.07. Each Unit consists of one common share and one common share purchase warrant. Each Unit warrant entitles the holder to purchase one common share of the Company for a period of 24months from closing at a price of $0.15per share.Commission of 7% cash and 7% broker warrants. The broker warrants have the same terms as the Unit warrants.The Company intends to close additional tranches in the near-term.
The proceeds raised through the private placements will be used for general working capital.
THC BioMed is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. THC BioMed is Canada’s largest supplier of legal cannabis genetics. The Company is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC BioMed is well-positioned to be in the forefront of this rapidly growing industry.Please visit our website for a more detailed description of our business and services available. www.thcbiomed.com
President and CEO:
THC BioMed Intl Ltd.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC. Forward-looking information is based on certain key expectations and assumptions made by the management of THC. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,”“continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions.Although THC believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and include that(a)the investments will be used for the stated purposes, (b) the Company will close additional tranches in future up to approximately $1,500,000and(c)THC will be in the forefront of this rapidly growing industry.
THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.