pcNewsWire – True Leaf Medicine International Ltd. (CSE: MJ; OTCPK: TLFMF; FSE: TLA) has closed second tranche of previously announced non-brokered private placement, issuing 4,641,816 units at $0.30 per unit for gross proceeds of $1,392,545
Proceeds will be used to develop the business of its ‘True Leaf Medicine’, ‘True Leaf Pet’ and ‘True Leaf Pet Europe’ subsidiaries
True Leaf Announces Second Tranche Closing of Private Placement
Vancouver, British Columbia–(Newsfile Corp. – June 13, 2017) – True Leaf Medicine International Ltd. (CSE: MJ) (OTC Pink: TLFMF) (FSE: TLA) is pleased to announce that it has closed the second tranche of its recently-announced non-brokered private placement by issuing an aggregate of 4,641,816 units (each, a “Unit”) at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,392,545 (the “Private Placement”). Each Unit consists of one common share of the Company (each, a “Common Share”) and one warrant exercisable into one Common Share at a price of $0.45 for a period of 24 months. One insider of the Company subscribed for 85,000 Units, representing C$25,500 of the gross proceeds.
In connection with the Private Placement, the Company paid an aggregate of $18,617 in cash commissions to three finders, equal to 7% of the gross proceeds received from investors introduced to the Company by those finders.
The Company intends to use the proceeds of the Private Placement as disclosed in its news release dated May 3, 2017, and in particular, to develop the business of its ‘True Leaf Medicine’, ‘True Leaf Pet’ and ‘True Leaf Pet Europe’ subsidiaries.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four month and one day.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein 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 in the United States except in compliance with one or more exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
About True Leaf:
True Leaf Medicine International Ltd., through its wholly-owned subsidiary ‘True Leaf Pet’, has entered the $104.9 billion global pet care industry with a line of hemp-focused pet chews and supplements marketed through natural pet health and veterinary channels in Canada, the United States and Europe. The Company has also filed an application under Health Canada’s Access to Cannabis for Medical Purposes Regulations (AC(MPR) to become a Canadian licensed producer through its ‘True Leaf Medicine’ subsidiary. It has passed through the security screening process of Health Canada’s review and is currently in the final review stage before the ‘pre-licensing inspection’ approval.
For more information, please see the Company’s website at www.trueleaf.com.
Director and Corporate Relations
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