November 16, 2017
The Offering will consist of up to 2,000,000 units (“Units”) at a purchase price of $0.50 per Unit, for aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one common share in the capital of the Company (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share for a period of five years from the date of issuance, at a purchase price of $0.70. The company may pay a 5% cash finders fee. The Offering is expected to close on or before December 30, 2017. The proceeds from the Offering will be used for working capital and to fund the construction of the first production facility.
ON BEHALF OF THE BOARD
Lotus Ventures Inc.
Dale McClanaghan, President and CEO
For further information,: Dale McClanaghan: firstname.lastname@example.org (604) 644-9844
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: receipt of regulatory approvals of the Offering, inability to complete the Offering on the proposed terms or at all, delays in obtaining or inability to obtain required government or other regulatory approvals, including licenses to cultivate cannabis, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Back to the Lotus Announces Private Placement page