CALGARY, Alberta, June 12, 2018 (GLOBE NEWSWIRE) -- Aldershot Resources Ltd. (“Aldershot” or the “Company”) (TSX VENTURE:ALZ) is pleased to announce that, as a result of excess institutional demand, the Company has increased the size of its previously announced private placement of common shares and units of the Company from $20.0 million to $25.0 million (the “Private Placement”). In all other respects, the terms of the Private Placement will remain as previously disclosed.
The net proceeds from the Private Placement will be used by the Company to establish and launch a retail cannabis business in Western Canada. The new management team expects to execute its strategy by capitalizing on its collective experience in the following areas: (i) controlled substance retail market; (ii) an understanding of consumer purchasing habits and provincial demographics from historical data; (iii) leveraging existing relationships with landlords, municipalities and regulators; (iv) expertise tailoring product brands and retail experience; and (v) operational know-how including store sizing, site development, inventory management, staffing, training and cost structure.