CALGARY, Alberta, July 11, 2018 (GLOBE NEWSWIRE) -- Target Capital Inc. d.b.a. CBi 2 Capital (“ CBi 2 ” or the “ C o rp o r at i o n ”) (TSXV:TCI) (CSE:TCI) is pleased to announce the completion of its previously announced rights offering (the “ Rights Offering ”) to holders (“ Shareholders ”) of common shares of CBi 2 (“ Common Shares ”). Under the Rights Offering, Shareholders subscribed for and purchased an aggregate of 10,437,715 units (each, a “ Unit ”), of which an aggregate of 1,524,999 Units were purchased by insiders of the Corporation, at a price of $0.06 per Unit, resulting in gross proceeds to the Corporation of $626,265. Each Unit consists of one Common Share and one half of one Common Share purchase warrant (a “ Warrant ”), with each whole Warrant entitling the holder thereof to purchase one Common Share at a price of $0.10 until June 27, 2023.
The Corporation intends to use the proceeds of the Rights Offering to execute on the Corporation’s cannabis-focused investment strategy.
Following the completion of the Rights Offering, the Corporation has 106,006,254 Common Shares and 59,918,880 Warrants outstanding.
Ab o ut CBi 2 Capital
Target Capital Inc., to be renamed CBi 2 Capital Corp., is a Calgary, Alberta based company engaged in making strategic investments in private companies, including small start‐up operations and land development corporations. The Corporation’s Common Shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol “TCI”. CBi 2 is executing on a cannabis-focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. CBi 2 will explore and invest in a number of strategic investment opportunities in the medical and recreational cannabis industry and in businesses offering ancillary supportive products and services. Upon receipt of Shareholder approval, the Corporation will change its name to “CBi 2 Capital Corp.”.
For additional information please contact:
Sonny Mottahed President and Chief Executive Officer or Bill Macdonald Executive Vice President – Corporate Development CBi 2 Capital Suite 300, 407 – 3rd Street SW Calgary, Alberta T2P 4Z2 Phone: 403.351.1779 Email: contact@cbi2.com
F o rw a rd - L oo k ing a nd C a ut i o n a ry St a t e m en t s
T h is n ews r e le a s e m a y i n cl ud e f o rw a r d - l oo ki n g s t a tem en t s i n cl ud i n g o p i n i on s , a ss u m p ti on s , est i m a tes, and , m o r e pa r tic u l a r ly, s t a tem en ts c on c e r n i n g t h e use of proceeds o f t h e Rights Offering. W hen u s ed in this docume n t, the w o r ds “ w ill,” “antici p ate,” “believe , ” “ est i mate , ” “expect,” “ int e nt , ” “ may , ” “ p r oject , ” “ s h o uld , ” and s imilar exp r es s ions a r e intended to be am o ng the s tatements t h at identify fo rw a r d -looki n g s tatement s .
T h e f o rw a r d - l oo ki n g s t a tem e n ts a r e f ound ed o n t h e b a s is o f e xp e c t a ti on s a n d a ss u m p ti o n s m ad e b y the Corporation . F o rw a r d - l oo ki n g s t a tem en ts a r e s ub ject to a w i d e r ang e o f r i s ks an d un c e r t a i n tie s , a n d a lt h o ug h the Corporation b elie v es t ha t t h e e xp e c t a ti o n s r e p r ese n ted b y s u ch f o rw a r d - l oo k i n g s t a tem en ts a r e r e a s onab le, t h ere c a n b e n o a ss u r an ce t ha t s u ch e xp e c t a ti on s w ill b e r e a li z e d .
A n y nu m b er o f im po r t an t f a ct o r s c ou ld c au s e a ct ua l r es u lts to d iffer m a ter i a lly f r o m t h o s e in t h e f o rw a r d - l oo ki n g s t a tem en ts i n cl ud i ng , bu t no t l imited t o : regulatory and third party approvals not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the medical marijuana market and the recreational marijuana market; government regulations, including future legislative and regulatory developments involving medical and recreational marijuana; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Corporation with securities regulatory authorities.
Ex c e p t a s r e qu i r ed b y a p p lic ab le l a ws , the Corporation does not u nd ertake an y ob li g a ti o n t o pub licly u p da te o r r e v i s e an y f o rw a r d - l oo ki n g s t a tem en t s .
Neither the T S X V e nt u r e E x c h a n g e n o r its R e g ulati o n S er vic e s P r o vi d er (a s that term is d e f ined in the po licies o f the T SX V ent u r e E x ch a n g e) a c c e p ts r es po n s i b ili t y fo r the ad e q u a cy o r a c c u r a c y o f th i s ne w s r ele a s e.
