KELOWNA, BC / ACCESSWIRE / February 03, 2017 / Laguna Blends, Inc. (CSE: LAG) (OTC PINK: LAGBF) (Frankfurt: LB6A.F) (the
"Company" or "Laguna") is pleased to announce the closing of the first tranche of its non-brokered private placement (the "Private
Placement"). The first tranche consisted of the issuance of 5,543,329 units at a price of $0.15 per unit for gross proceeds of
$831,500. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one
additional common share of the Company at a price of $0.25 per warrant share for a period of twelve months. The Warrants are
subject to an acceleration provision of the Company whereby, in the event that the Company's common shares trade above $0.30 per
share on the Canadian Securities Exchange (CSE) for a period of ten consecutive trading days, the warrants will terminate on the
date that is 30 days following receipt of a call notice in the event the holder has not exercised the warrants by such date.
All securities issued are subject to a hold period expiring four months and one day from the date of issuance. In connection
with the private placement, the company paid a cash or shares finder's fee of up to 7 per cent.
The Company has received additional subscription agreements for $140,250, which will be included in the second tranche. The
Company anticipates closing the second tranche of the financing next week.
The Company would also like to announce that it has entered into a consulting agreement with KannaFund Holdings LLC. to provided
business development services. KannaFund has been working closely with Laguna Blends over the past six months to assist with
closing the Carlsbad agreement. In connection with the consulting agreement, the Company will issue the consultant 1,000,000 common
shares.
About Laguna Blends Inc.
Laguna Blends is a market leader in the distribution of Hemp and CBD products. Lagunas growth strategy includes acquiring and
incubating companies who formulate and or manufacture Hemp products. Laguna Blends markets Hemp products utilizing its B to B
Network along with driving traffic to its Club 8 online marketplace. Laguna's intent is to provide the highest quality hemp product
experience for the end user, utilizing a proprietary nanotechnology in many of its consumable and topical skin care products.
Laguna is currently seeking joint ventures and acquisitions to expand its portfolio and will aggressively begin international
expansion into Asia and Europe in 2017.
ON BEHALF OF THE BOARD "Ray Grimm Jr" CEO, President & Director
CORPORATE COMMUNICATIONS:
Howe & Bay Financial: 604-449-5302
COROPRATE MEDIA:
ir@lagunablends.com www.lagunablends.com https://cbdskincream.com/ Join Us On Face Book: https://www.facebook.com/LagunaBlends/
Twitter: @LagunaBlends Forward-Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements
regarding the Company's business, products, future, and its product offerings and plans for sales and marketing. Although the
Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that
such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such
forward-looking statements are subject to risks and uncertainties that may cause actual results, performance, and developments to
differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's
products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans
as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any
forward-looking statements or forward-looking information in this news release.Although the Company believes that the expectations
reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be
correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the
date of this release.
SOURCE: Laguna Blends, Inc.
