/NOT FOR DISTRIBUTION TO
Each Unit consists of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price per Common Share of
The underwriters received a cash underwriting fee equal to 6.0% of the aggregate gross proceeds of the Offering and were issued compensation options equal to 6.0% of the aggregate number of Units sold under the Offering (the "Compensation Options"). Each Compensation Option is exercisable until
In connection with the Offering, the Company filed a prospectus supplement dated
The Company expects to use the net proceeds from the Offering for the further development and expansion of its business and for working capital and general corporate purposes, as further described in the Prospectus Supplement.
Copies of the Prospectus Supplement and accompanying Base Shelf Prospectus may be obtained under the Company's profile on SEDAR at www.sedar.com and from
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities comprising the Units have not been and nor will they be registered under the United States Securities Act of 1933, as amended (the "
About
Headquartered in
Information on the Company and its many products can be accessed through the links below:
NamasteTechnologies.com
NamasteMD.com
Cannmart.com
FORWARD-LOOKING INFORMATION – This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained herein, including, without limitation, statements related to the use of proceeds from the Offering and listing of the Warrants on the Exchange, are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including the Company's ability to use the proceeds in the manner set out in the Prospectus Supplement and final acceptance of the Exchange for the listing of the Warrants, as well as the assumptions and risks that are described from time to time in the Company's public securities filings, including the Company's Annual Information Form, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: the Company requiring additional funds to complete the activity or nature of the expenditure for which the proceeds of the Offering are to intended to be used, the Company's inability to satisfy the Exchange's listing requirements for the posting for trading of the Warrants, including distribution of the Warrants to a minimum number of public board lot holders, and additional risk factors that can be found in the Company's current MD&A and annual information form, both of which have been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the
SOURCE
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