/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.A. NEWSWIRES/
VANCOUVER, April 11, 2019 /CNW/ - CannaOne Technologies (CNNA: CSE/FSE: 3CT) ("CannaOne" or the "Company") announces that it intends to complete a non-brokered private placement financing (the "Financing") of units (each, a "Unit") for gross proceeds of up to CDN$500,000 with a price per Unit of CDN$0.56.
Each Unit will consist of one common share (each a "Share") and one common share purchase warrant (each a "Warrant"), with each Warrant exercisable to acquire one additional Share (each a "Warrant Share") for a period of 12 months following the closing date of the Financing ("Closing Date"). One-half of the Warrants shall have an exercise price of CDN$0.70 per Warrant Share, with the remaining one-half having an exercise price of CDN$1.12 per Warrant Share.
CannaOne intends to pay finder's fees of up to 8% in cash and 8% in finder's warrants in connection with the Financing. Proceeds from the Financing are expected to be used for ongoing working capital requirements relating to the development and commercialization of the CannaOne technology platforms.
Completion of the Financing is anticipated to occur on or about April 18, 2019 and will be subject to acceptance by the Canadian Securities Exchange. All securities issued pursuant to the Financing will be subject to a hold period of four months as required under applicable securities legislation.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About CannaOne Technologies
CannaOne has developed Bloomkit, the first product in the Bloom Product Suite; a turnkey enterprise software solution that can be utilized by any B-to-C cannabis company. Inherent functionalities ensure its users the highest levels of on-going customer satisfaction while the adaptability of Bloomkit, gives clients the ability to operate and satisfy regulatory environments of any governing body around the World, truly affording CannaOne the opportunity to serve an overall base of global clientele with a software suite that sits at the forefront of the industry. The Bloom Product Suite™ is representative of complete data driven and design focused software solutions that contain diverse system architectures and provide intelligent, machine learning that will give clients detailed industry business insights and ultimately lead to the creation and management of predictive content and product recommendation engines.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE CannaOne Technologies Inc.
For further information: Solomon Riby-Williams, Chief Executive Officer, [email protected], 604 - 559 - 8893