TORONTO, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Canada House Wellness Group Inc. (CSE:CHV) (“Canada House” or the “Company”) announces that it has extended to December 5, 2017 the closing date of its financing of unsecured convertible debenture units for total gross proceeds to the Company of $2,000,000 to $4,000,000 (the “Offering”).
The Company has to date received subscriptions in excess of the $2 million minimum offering amount and has received expressions of interest exceeding the maximum amount. The Company has decided to extend the closing date while it seeks to fill out the maximum offering amount and to attend to the various closing formalities. The price protection filed for by the Company in respect of the Offering will expire on December 7, 2017.
Each Unit is comprised of: (i) $1,000 principal amount of 8.5% unsecured convertible debentures in the capital of the Company with a maturity date of four years from the date of issuance; and (ii) 5,263 detachable common share purchase warrants of the Company.
Further details of the Offering are provided in the press release of the Company dated November 7, 2017.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, and these securities will not be offered or sold in any jurisdiction in which their offer or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws of the United States. Accordingly, these securities will not be offered or sold to persons within the United States unless an exemption from the registration requirements of the 1933 Act and applicable state securities laws is available.
Canada House Wellness Group Inc.
Canada House is the parent company of Marijuana for Trauma Inc., Knalysis Technologies and Abba Medix Corp. The Company's goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated cannabis therapy company. For more information please visit http://www.canadahouse.ca or www.sedar.com
Cautionary Statement Regarding Forward-Looking Information. Certain statements within this news release pertaining to the Company constitute “forward‐looking statements”, within the meaning of applicable securities laws, including without limitation, statements regarding future estimates, business plans and/or objectives, sales programs, forecasts and projections, assumptions, expectations, and/or beliefs of future performance, are “forward‐looking statements”. Such “forward‐looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward‐looking statements include, but are not limited to, statements with respect to the anticipated effects of the financing, regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in medical marijuana prices, actual operating performance of facilities, competition and other risks affecting the Company in particular and the medical marijuana industry generally, including those set out in the Company’s public disclosure record. The Company assumes no responsibility to update or revise forward‐looking information to reflect new events or circumstances unless required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.