Trading symbol: TSX-V-NEX: ENTH.H
VANCOUVER, April 23, 2020 /CNW/ - Entheos Capital Corp. (the "Company") announces the arrangement of a non-brokered private placement to raise up to $1,000,000 through the sale of 6,666,667 units (each a "Unit") at a price of $0.15 per Unit.
Each Unit will comprise one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to acquire a common share at a price of $0.30 per share for a period of 12 months. The completion of the placement is subject to the approval of the TSX Venture Exchange. Proceeds of the placement will be utilized for general working capital purposes and identifying acquisition opportunities for the Company for its eventual graduation from the NEX.
The Company is focusing its review of acquisition opportunities to targets involved in medical entheogenics. The Company has not yet identified a proposed target and there can be no assurances that the Company will identify a suitable target. Approval from the Company's board of directors, shareholders and the TSX Venture Exchange will be required before the Company begins any operations in the entheogenic industry.
Entheos Capital Corp.
"Brayden R. Sutton"
Brayden R. Sutton, Chief Executive Officer
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.
Notice regarding Forward Looking Statements: This news 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 news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Entheos Capital Corp.
For further information: Brayden Sutton at (778) 656-0377.