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MTL Cannabis Corp C.MTLC

Alternate Symbol(s):  MTLNF

MTL Cannabis Corp. is focused on crafting cannabis products, including lines of dried flower, pre-rolls and hash marketed. The Company, through its subsidiaries, is engaged in the cultivation and production of cannabis products for recreational and medical purposes in Canada. It also operates clinics that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from medical conditions. Its wholly owned subsidiaries include Montreal Medical Cannabis Inc. (Montreal Cannabis), Abba Medix Corp. (Abba), Canada House Clinics Inc. (CHC), and IsoCanMed Inc. (ICM). Montreal Medical is a licensed producer operating from a 57,000 sq ft licensed indoor growing facility in Pointe Claire, Quebec. Abba is a licensed producer in Pickering, Ontario that operates a medical cannabis marketplace. CHC is operating clinics across Canada. ICM is a licensed producer in Louiseville, Quebec growing indoor cannabis in its 64,000 sq. ft. production facility.


CSE:MTLC - Post by User

Bullboard Posts
Post by Interpolation1on Jun 30, 2016 1:31pm
132 Views
Post# 25012974

NR. Clinic Acquisition and PP to fund it

NR. Clinic Acquisition and PP to fund it
Abba Medix Group Engages Mackie Research in Private Placement to Support Clinical Wellness Acquisition

 

TORONTO, ONTARIO--(Marketwired - June 30, 2016) -Abba Medix Group Inc. ("Abba" or the "Company") (CSE:ABA) is pleased to announce that it has executed an engagement agreement with Mackie Research Capital Corporation ("Mackie Research").

Mackie Research will act as lead agent and sole bookrunner, on a best-efforts basis, for a private placement offering (the "Offering") for gross proceeds (the "Gross Proceeds") of a minimum of $6,000,000 and up to a maximum of $10,000,000 in support of the previously announced acquisition on of Marijuana for Trauma Inc. and The Longevity Project (the "Acquisition"). The proceeds of the Offering will initially be deposited with a third party escrow agent and released to the Company upon completion of the Acquisition. For further details of the Acquisition, please refer to the Company's news release dated June 30, 2016.

The Offering will consist of "Equity Units" and "Convertible Debenture Units" as follows:

"Equity Units" in the principal amount of a minimum of $3,000,000 and up to a maximum of $4,000,000, at a price of $0.25 per Equity Unit (the "Equity Offering Price"), with each Equity Unit comprised of: (a) one common share of the Company (a "Common Share") and (b) one common share purchase warrant of the Company (a "Equity Warrant");

"Convertible Debenture Units" in the principal amount of a minimum of $3,000,000 and up to a maximum of $6,000,000, at a price of $1,000 per Convertible Debenture Unit (the "Convertible Debenture Unit Offering Price"), with each Convertible Debenture Unit comprised of: (a) one 8.5% secured debenture with a principal amount of $1,000 (a "Debenture"); and (b) 1,000 Convertible Debenture Warrants (a "CD Warrant").

Each Equity Warrant and each CD Warrant will entitle the holder thereof to acquire one common share (a "Warrant Share") for an exercise price of $0.40 per Warrant Share for a period of 24 months following closing of the Acquisition.

Prior to Closing, the Company will seek the approval of its shareholders to approve the Acquisition, a proposed 1.5:1 share consolidation (the "Consolidation") and certain related matters. Unless otherwise specified, all references herein to numbers of securities and pricing are given on a post Consolidation basis.

For more information about Abba Medix, please go to https://www.abbamedix.com.

For more information about Mackie Research, please go to https://www.mackieresearch.com.

About Abba Medix Corp.

Abba Medix Group Inc. (CSE:ABA) is the parent company of Abba Medix Corp.; a purveyor of fine medical marijuana in Canada. In compliance with Health Canada's regulations, the company's goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated medical marijuana marketplace. Abba's mission is to find, acquire or create joint venture opportunities in patient focused medical marijuana related companies, products, organizational events, sponsorships, educational training, and research and development within medical marijuana sector. For more information please visit www.abbamedix.com.


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