Listing allows Trichome Financial to commence lending to U.S. cannabis sector
Trading on CSE to begin December 16, 2019 under ticker symbol TFC
TORONTO, Dec. 12, 2019 /CNW/ - Trichome Financial Corp. (the "Company" or "Trichome Financial") (TSXV:TFC) is pleased to announce it has received final approval to list its common shares on the Canadian Securities Exchange (the "CSE"). Listing on the CSE, together with concurrent delisting from the TSX Venture Exchange, will allow the Company to begin lending to the cannabis sector in the United States.
"Expanding our addressable market to the United States is a natural next step for Trichome Financial and has been a part of our strategy since day one. Our founders and management team have unique experience across the North American cannabis market and we will now have a much larger pool of opportunities to deploy capital," said Michael Ruscetta, Chief Executive Officer.
No specific loan into the U.S. cannabis market is currently pending. The Company is now evaluating opportunities in Canada, the United States, and other jurisdictions. No loan to any company operating in the United States cannabis market has been or will be made while the Company's common shares trade on the TSX Venture Exchange.
CSE listing details
In accordance with the requirements of listing on the CSE, Trichome Financial filed a Listing Statement on December 2, 2019 which is available on sedar.com.
The Company's common shares will continue to trade under the ticker "TFC" and no action is required by current shareholders to trade their shares on the CSE.
Delisting of Trichome Financial's common shares has been accepted by the TSX Venture Exchange and will be effective December 13, 2019 after market close.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on providing flexible and creative credit solutions to the global legal cannabis market. Trichome Financial was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Founded by industry leaders Origin House and Stoic Advisory, Trichome Financial's experienced management team has a unique edge to capitalize on proprietary deal flow and industry insight while developing a first mover advantage as a global cannabis focused specialty finance company. Trichome Financial provides customized financing solutions across the industry value chain to support growth, capital expenditures, mergers, acquisitions, working capital and other needs. Leveraging the combined resources and knowledge of its founders, it is able to offer significant value-added financial, product, market and operational support to its partner companies. Trichome Financial's current assets are all based in Canada and it currently has no operations or assets in the United States.
For further information about Trichome Financial please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome Financial and 22 Capital dated May 29, 2019 which is available on the Company's SEDAR profile at www.sedar.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: any lending or other activities into the United States, the commencement of trading of the common shares on the CSE, and the delisting of the common shares from the TSX Venture Exchange. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; any developments in the U.S. cannabis market; and the delay or failure to receive board, shareholder or regulatory approvals. 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 the forward-looking statements and information contained in this news release. Except as required by law, Trichome Financial assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Trichome Financial Corp.