Tweed Marijuana Inc. Announces $15 Million Bought
Post# of 63696
Posted On: 04/24/2014 8:41:39 AM
Tweed Marijuana Inc. Announces $15 Million Bought Deal Financing
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Alert
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.
Tweed Marijuana Inc. (TSX VENTURE:TWD) ("Tweed" or the "Company"
announced
today that it has entered into an agreement with a syndicate of underwriters led
by GMP Securities L.P. and including Jacob Securities Inc. (collectively, the
"Underwriters", pursuant to which the Underwriters have agreed to purchase, on
a bought deal basis pursuant to the filing of a short form prospectus, 4,687,500
common shares (the "Common Shares" of the Company, at a price of $3.20 per
Common Share (the "Offering Price" for aggregate gross proceeds to Tweed of
$15,000,000 (the "Offering".
The Company has agreed to grant the Underwriters an over-allotment option to
purchase up to an additional 703,125 Common Shares at the Offering Price,
exercisable in whole or in part, at any time on or prior to the date that is 30
days following the closing of the Offering. If this option is exercised in full,
an additional $2,250,000 will be raised pursuant to the Offering and the
aggregate gross proceeds of the Offering will be $17,250,000.
The Common Shares will be offered by way of a short form prospectus to be filed
in all of the provinces of Canada except Quebec. The Company intends to use the
net proceeds from the Offering for facility expansion and general corporate
purposes. The Offering is expected to close on or about May 14, 2014 and is
subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory and stock exchange approvals, including the approval of the
TSX Venture Exchange and the applicable securities regulatory authorities.
The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of the United States Securities Act of 1933, as
amended, and applicable state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About Tweed Marijuana Inc.
Tweed Marijuana Inc. is a TSX Venture Exchange listed company. Its wholly owned
subsidiary, Tweed Inc., is a licensed producer of medical marijuana in Canada.
The principal activities of Tweed are the production and sale of marijuana out
of its facility in Smiths Falls, Ontario as regulated by the Marihuana for
Medical Purposes Regulations.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words such as
"plans", "expects" or "does not expect", "is expected", "estimates", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Tweed Marijuana Inc. or Tweed Inc. to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
statements. Examples of such statements include statements regarding the
issuance of the Common Shares and the use of proceeds from the Offering. Such
forward-looking statements are based on a number of assumptions which may prove
to be incorrect, including, but not limited to: the ability to obtain any
necessary financing; the economy generally; the yield from Tweed's marijuana
growing operations; consumer interest in products; competition; regulation;
anticipated and unanticipated costs and delays; and the ability to receive any
required approvals or consents in connection with the Offering, the ability of
Tweed to satisfy the conditions of the Offering or otherwise close the Offering.
Although Tweed Marijuana Inc. has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on forward-looking statements. The
factors identified above are not intended to represent a complete list of the
factors that could affect Tweed Marijuana Inc. or Tweed Inc. Additional factors
are noted under "Part IV - Description of Risk Factors Associated with the
Acquisition" in the Filing Statement of Tweed Marijuana Inc. dated as of March
25, 2014 and available at www.SEDAR.com. The forward-looking statements included
in this news release are made as of the date of this news release and Tweed
Marijuana Inc. does not undertake an obligation to publicly update such
forward-looking statements to reflect new information, subsequent events or
otherwise unless required by applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tweed Marijuana Inc.
Chuck Rifici
CEO
855-55-TWEED
Alert
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.
Tweed Marijuana Inc. (TSX VENTURE:TWD) ("Tweed" or the "Company"
announced today that it has entered into an agreement with a syndicate of underwriters led
by GMP Securities L.P. and including Jacob Securities Inc. (collectively, the
"Underwriters"
, pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 4,687,500
common shares (the "Common Shares"
of the Company, at a price of $3.20 per Common Share (the "Offering Price"
for aggregate gross proceeds to Tweed of $15,000,000 (the "Offering"
. The Company has agreed to grant the Underwriters an over-allotment option to
purchase up to an additional 703,125 Common Shares at the Offering Price,
exercisable in whole or in part, at any time on or prior to the date that is 30
days following the closing of the Offering. If this option is exercised in full,
an additional $2,250,000 will be raised pursuant to the Offering and the
aggregate gross proceeds of the Offering will be $17,250,000.
The Common Shares will be offered by way of a short form prospectus to be filed
in all of the provinces of Canada except Quebec. The Company intends to use the
net proceeds from the Offering for facility expansion and general corporate
purposes. The Offering is expected to close on or about May 14, 2014 and is
subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory and stock exchange approvals, including the approval of the
TSX Venture Exchange and the applicable securities regulatory authorities.
The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of the United States Securities Act of 1933, as
amended, and applicable state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About Tweed Marijuana Inc.
Tweed Marijuana Inc. is a TSX Venture Exchange listed company. Its wholly owned
subsidiary, Tweed Inc., is a licensed producer of medical marijuana in Canada.
The principal activities of Tweed are the production and sale of marijuana out
of its facility in Smiths Falls, Ontario as regulated by the Marihuana for
Medical Purposes Regulations.
Notice regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words such as
"plans", "expects" or "does not expect", "is expected", "estimates", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Tweed Marijuana Inc. or Tweed Inc. to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
statements. Examples of such statements include statements regarding the
issuance of the Common Shares and the use of proceeds from the Offering. Such
forward-looking statements are based on a number of assumptions which may prove
to be incorrect, including, but not limited to: the ability to obtain any
necessary financing; the economy generally; the yield from Tweed's marijuana
growing operations; consumer interest in products; competition; regulation;
anticipated and unanticipated costs and delays; and the ability to receive any
required approvals or consents in connection with the Offering, the ability of
Tweed to satisfy the conditions of the Offering or otherwise close the Offering.
Although Tweed Marijuana Inc. has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on forward-looking statements. The
factors identified above are not intended to represent a complete list of the
factors that could affect Tweed Marijuana Inc. or Tweed Inc. Additional factors
are noted under "Part IV - Description of Risk Factors Associated with the
Acquisition" in the Filing Statement of Tweed Marijuana Inc. dated as of March
25, 2014 and available at www.SEDAR.com. The forward-looking statements included
in this news release are made as of the date of this news release and Tweed
Marijuana Inc. does not undertake an obligation to publicly update such
forward-looking statements to reflect new information, subsequent events or
otherwise unless required by applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tweed Marijuana Inc.
Chuck Rifici
CEO
855-55-TWEED
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