- Receives conditional approval to list common shares on
the CSE
TORONTO, Nov. 26, 2019 /CNW/ - Trichome Financial Corp.
(formerly 22 Capital Corp.) (the "Company" or "Trichome
Financial") (TSXV: TFC) is pleased to announce it has received
conditional approval to list its common shares on the Canadian
Securities Exchange (the "CSE"). Successful listing on the CSE
will allow the Company to expand its addressable market for credit
solutions to include the cannabis sector in the United States.
"Since inception, Trichome Financial has viewed the cannabis
credit opportunity in a global context and having the ability to
transact in the largest cannabis market in the world is a natural
next step for the Company," said Michael
Ruscetta, Chief Executive Officer. "Having built the core of
our infrastructure and refined our due diligence process, our team
believes that it can leverage its business model to address the
need for credit in the United
States and capitalize on the unique relationships and
insights in that market by virtue of the experience of our founding
and largest shareholder Origin House (CSE: OH). The volatility of
equity markets has resulted in a growing pipeline for Trichome
Financial, with high quality operators seeing the value in
solution-driven credit products and providing us the terms and
security we require to deliver attractive returns to our
shareholders. We expect that entry into the United States will materially increase the
number of actionable opportunities and further entrench Trichome
Financial as a leader in creative and flexible credit solutions to
the cannabis sector."
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 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 will file a Listing Statement, which will be
available on sedar.com. Final approval for the listing by the CSE
is expected in the first week of December
2019. 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.
Trichome Financial intends to apply to delist its common shares
from the TSX Venture Exchange. Delisting of the common shares is
subject to approval of the TSX Venture Exchange.
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.
READER ADVISORY
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 Company
receiving final approval from the CSE, 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.