CBD MED RESEARCH ANNOUNCES PRIVATE PLACEMENT
November 17, 2017 – Vancouver, British Columbia – CBD Med Research Corp. (NEX: CBM.H) (the “Company”) announces that it intends to complete a non-brokered private placement financing of up to $600,000 through the sale of up to 4,000,000 units (the “Units”) at a price of $0.15 per Unit (the “Offering”). Each Unit will consist of one common share and one half of one transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to acquire one additional common share at a price of $0.25 for a period of 12 months from the date of issuance.
The Company anticipates that it will use a portion of the proceeds from the Offering to settle various debts, and the remainder of the proceeds will be used for general working capital. The Company may pay a finders’ fee on all or a portion of the Offering. Completion of the Offering is subject to approval of the TSX Venture Exchange.
The Company is also proposing to extend the exercise period of a total of 1,476,012 outstanding share purchase warrants, all of which are exercisable at $0.32 per share. The warrants were issued pursuant to a private placement completed on December 19, 2016. The proposed new expiration date of the warrants is December 19, 2018. The exercise price of the warrants will remain unchanged. The warrant extension is subject to the acceptance of the TSX Venture Exchange.
The Company further announces that it will not be proceeding with its private placement, previously announced on May 10, 2017, of up to 3,333,333 common shares at a price of $0.15 per share for total proceeds of up to $500,000.
ON BEHALF OF THE BOARD
“Gary F. Zak”
Gary F. Zak, Chief Executive Officer
For further information, please contact: Gary Zak firstname.lastname@example.org or 604-802-7551
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.