Heritage Cannabis readies 33-million unit distribution Heritage Cannabis Holdings Corp. has filed a final short form prospectus dated Jan. 30, 2019, and obtained a receipt from the securities regulatory authorities in the provinces of British Columbia, Alberta, Ontario and Nova Scotia to qualify the distribution of 33 million units of the company issuable upon the deemed exercise of special warrants issued by the company on Nov. 7, 2018. As a result of obtaining the receipt the special warrants will be deemed exercised no later than Feb. 6, 2019.
In accordance with the terms of a special warrant indenture dated Nov. 7, 2018, between the company and Computershare Trust Company of Canada, each special warrant entitles the holder to receive 1.1 common shares of the company and 1.1 common share purchase warrants. Each warrant is exercisable for one share on a date that is the earlier of (i) May 7, 2021, and (ii) the date specified in any warrant acceleration notice, at an exercise price of 35 cents per share. For further information on the special warrants, please see the company's news releases dated Oct. 18, 2018, and Nov. 7, 2018, copies of which are available on SEDAR.