/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/
WINNIPEG, July 5, 2018 /CNW/ - DELTA 9 CANNABIS INC. (TSXV: NINE) ("Delta 9" or the "Company") is pleased to announce that it has retained Hybrid Financial Inc. ("Hybrid") to provide investor relations services to the Company. The services will include marketing and branding initiatives focused on raising market awareness of the Company and increasing the Company's profile with investment advisors in the United States and Canada.
Pursuant to the terms of the agreement entered into between the Company and Hybrid (the "Agreement"), Hybrid will receive a monthly retainer of $14,000 and a one-time issuance of 250,000 incentive stock options (the "Options"), each exercisable to acquire one common share of Delta 9 at an exercise price of $1.49 per share upon vesting and for a period expiring on the earlier of five years from the date of grant and 3 months following the termination of the Agreement.
The Options shall vest in four equal tranches over a 12 month period, with 62,500 Options (25%) vesting at the end of each three month period following the date of grant. The Agreement is for an initial term of three months commencing July 4, 2018 and shall automatically be renewed on a month-to-month basis, unless and until terminated by the Company by providing 15 days' notice prior to the end of the initial or renewed term, as the case may be.
The Agreement remains subject to the approval of the TSX Venture Exchange.
Except with respect to the Options and any common shares of Delta 9 that may be issued upon the exercise thereof, Hybrid does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
Hybrid is a privately held company majority owned by a company controlled by its co-founder and managing director, Alexandre Côté, a former managing director of AXA Canada and VP of sales at OpenSky Capital. Founded in 2011, Hybrid describes its team as consisting of over 40 sales professionals and 70 sales call agents operating in Toronto and Montreal.
About Delta 9 Cannabis Inc.
Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9's shares trade on the TSX Venture Exchange under the symbol "NINE".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include statements relating to the services to be provided by Hybrid under the Agreement. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the risk that the services to be provided by Hybrid will differ from those set out in the Agreement. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE Delta 9 Cannabis Inc.
For further information: Gary Symons, Director of Communications, [email protected], 250.300.9352