Beleave Inc BLEVF

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Beleave Announces $5 Million Non-Brokered Private Placement of Units
 

Toronto, ON – April 24, 2018 - Beleave Inc. ("Beleave" or the "Company") (CSE: BE; OTCQX: BLEVF) is pleased to announce its intention to complete a non-brokered private placement (the "Non-Brokered Offering") of up to 2,857,143 units of the Company at a price of $1.75 per unit for gross proceeds of approximately $5 million. The Company may, at its sole discretion, increase the size of the Non-Brokered Offering.
 
Each unit is comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $2.25 for a period of 24 months from the date of issuance of the Warrant, subject to accelerated expiry in the event that the ten-day volume weighted average price of the Common Shares on the Canadian Securities Exchange (the "CSE"), or other exchange or quotation system where the Company's shares are listed and where a majority of the trading volume of the Common Shares occurs, equals or exceeds $3.00. Subject to customary closing conditions, including CSE approval, the Non-Brokered Offering is expected to have two tranches, with the initial closing on or about April 25, 2018.
 
"We are pleased to have received financing interest from a group of investors that believe in our commitment to provide value to all our stakeholders." commented Beleave CEO, Andrew Wnek. “The capital will be used for G&A purposes and be available as we continue to evaluate a multitude of industry opportunities.”
 
About Beleave
Beleave Inc. is a biotech company and Beleave's wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave's purpose-built facility is located near Hamilton, Ontario.

For further information please contact:
Sebastian de Kloet