MONTREAL, June 18, 2021 /CNW/ - Lumiera Health
Inc. (TSXV: NHP) (the "Company" or
"Lumiera "), a company specializing in the development
and commercialization of natural health products, is announcing
that it intends to sell, on a private placement basis, in one or
more tranches, up to 52,000,000 units (the "Units") at a price of
$0.025 per Unit, for gross proceeds
to the Company of up to $1.3 million. The issue price of the Units
is equal to the closing price of the Lumiera shares on the TSX
Venture Exchange on June 17,
2021.
Each Unit will consist of one common share in the capital of the
Company (each, a "Common Share") and one common share purchase
warrant (each, a "Warrant"), with each Warrant entitling the holder
to acquire one additional Common Share, at an exercise price of
$0.06 per share, for a period of four
years from the date of issuance.
The Company intends to include an acceleration clause in the
certificates representing the Warrants whereby the Company may
accelerate the expiry of these Warrants at any time prior to the
expiry date in the event the daily volume weighted average trading
price of the Common Shares of the Company on the TSX Venture
Exchange exceeds $0.12 for at least
10 consecutive trading days by providing written notice to the
warrant holders (the "Acceleration Notice"). The Warrants
will, unless exercised, expire on the 30th day after the Company
provides the Acceleration Notice.
The Company may pay registered dealers a cash commission equal
to up to 7.5% of the aggregate proceeds raised in the private
placement and issue broker warrants entitling such dealers to
purchase such number of Units equal to up to 7.5% of the aggregate
of number of Units issued in the private placement, at the same
issue price as the Units. The final terms of the broker
warrants will be confirmed prior to closing.
The offering is expected to close on or before July 9, 2021. The net proceeds from the private
placement are intended to be used for working capital to support
revenue growth and for general corporate purposes. " We have
made great progress in the past couple of months and the added
capital will enable us to accelerate our growth as we continue on
our expected path toward profitability", said Carlos Ponce, CEO of Lumiera.
The closing of the private placement is subject to certain
standard conditions including, but not limited to, the receipt of
all necessary approvals including the acceptance of the TSX Venture
Exchange.
For more information about Lumiera, visit www.lumiera.ca
About Lumiera Health
Lumiera specializes in the development and commercialization of
evidence-based botanical products for the healthcare industry. The
Company sells both oral and topical botanical agents to help manage
unmet medical needs through its Holizen Laboratories division.
Lumiera is also developing and commercializing a unique portfolio
of products acting on the endocannabinoid system and providing
innovative solutions for chronic pain and inflammation. The Company
is a pioneer in the health and pain management innovation space and
the Lumiera brand is rooted in the core brand values of science,
nature and compassion. Passionate about making people feel
better, we deliver trustworthy and scientifically proven solutions
that work with the body's own system. For more information
visit: www.lumiera.ca.
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.
Forward-looking information
Certain statements contained in this press release constitute
"forward-looking information" as such term is defined in applicable
Canadian securities legislation. The words "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions indicate such "forward-looking
information" as they relate to Lumiera. All statements other
than statements of historical fact may be forward-looking
information. Such statements reflect Lumiera' current views and
intentions with respect to future events, and current information
available to Lumiera, and are subject to certain risks,
uncertainties and assumptions. Such risks and uncertainties
include, among others, the risk factors included in Lumiera' annual
management's discussion and analysis for the year
ended November 30, 2020,
which is available under the issuer's SEDAR profile
at www.sedar.com. Material factors or assumptions
were applied in providing forward-looking information. Many factors
could cause the actual results, performance or achievements that
may be expressed or implied by such forward-looking information to
vary from those described herein should one or more of these risks
or uncertainties materialize. Should any factor affect Lumiera in
an unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, Lumiera does not
assume responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and Lumiera undertakes no obligation to publicly update or
revise any forward-looking information, other than as required by
applicable law.
SOURCE Lumiera Health Inc.