OTTAWA, Nov. 21, 2018 /CNW Telbec/ - LiveWell Canada
Inc. ("LiveWell" or the "Company"), (TSXV: LVWL),
announces it has closed a non-brokered private placement of
1,937,500 units at a price of CAD 0.80 per Unit (the "Issue
Price") for total gross proceeds of CAD 1,550,000.
Each Unit will consist of one common share of LiveWell (a
"Common Share") and one common share purchase warrant of
LiveWell (a "Warrant"). Each Warrant shall be
exercisable into one Common Share at a price of $1.00 per
Warrant for a period of 24 months from the date of closing.
After March 20, 2019, if the volume
weighted average price of the Common Shares on the TSX Venture
Exchange is equal to or greater than $1.50 for 10
consecutive trading days, LiveWell may accelerate the expiry date
of the Warrants to the date that is 30 days following the date of
such written notice.
LiveWell intends to use the net proceeds of the Offering for
working capital purposes.
All securities issued will be subject to a four-month hold
period. A total of $10,500 in finder fees is payable
under this Offering.
About LiveWell Canada
LiveWell Canada Inc. is an innovative Canadian hemp and cannabis
company focused on advanced research on CBD and other cannabinoids,
as well as developing and distributing prescription and consumer
health and wellness products. The company has greenhouses under
construction in Ontario and
Québec. For more information, visit livewellcorp.com.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements about the
Company and its business. Often, but not always, forward-looking
statements can be identified by the use of words such as "plan",
"continue", "expect", "schedule", "project", "intend", "believe",
"anticipate", "estimate", "may", "will", "potential", "proposed"
and other similar words, or statements (including negative
variations) that certain events or conditions "may" or "will"
occur. Such statements are based on the current
expectations of management. The forward-looking events and
circumstances discussed in this release may not occur by certain
specified dates or at all and could differ materially as a result
of unknown and known risk factors and uncertainties affecting the
Company. Further, the Company cautions that this foregoing list of
material factors is not exhaustive, and readers are encouraged to
read all Risk Factors disclosed in the Company's Management
Discussion & Analysis dated October 26,
2018.
The forward-looking information contained in this press
release represents expectations of the Company as of the date of
this press release and accordingly, is subject to change after such
date. Readers should not place undue importance on forward-looking
information and should not rely upon this information as of any
other date. While the Company may elect to, it does not undertake
to update this information at any particular time except as
required in accordance with applicable securities laws.
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 release.
For more information, visit livewellcorp.com.
SOURCE LiveWell Canada Inc.