OTTAWA, Nov. 21, 2018
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.
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Media: English, Deborah Stokes, 819-576-3789, [email protected]; French, Dorra Jemail, 819 718-2042 (8:30 am - 4:30 pm), [email protected]; Investors: Nicole Marchand, 416-428-3533, [email protected]; Company: David Rendimonti, President and CEO; Steven Archambault, Chief Financial OfficerCopyright CNW Group 2018