- Liht Cannabis Corp. has closed a non-brokered private placement
- A total of 2,125,000 units were issued at a price of $0.20 per unit for gross proceeds of
$425,000.
KELOWNA, BC, March 25, 2019 /CNW/ - Liht Cannabis Corp. (CSE:
LIHT) (OTCQX: LIHTF) ("Liht") or the "Company") is announcing the closing of a non-brokered private placement financing (the
"Financing"). The Financing allows the Company to position key people who will be integral to the going forward plan.
A total of 2,125,000 units (the "Units") were issued under the Financing at $0.20 per unit for
gross proceeds of $425,000. Each Unit consists of one common share (each, a "Share") and one common
share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to acquire one additional Share at a price of
$0.35 per Share for a period of 18 months, expiring on September 26,
2020. In the event that the closing price of the Shares on the Canadian Securities Exchange (the "CSE") is at least
$0.50 for five consecutive trading days commencing four months and one day after the closing of the
Financing, the Company may accelerate the expiry of the Warrants by providing notice to the shareholder thereof and, in such
case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company. The Units
issued by the Company pursuant to the Financing will have a four month and one day hold period in Canada, as applicable.
The net proceeds from the Financing are intended for general working capital purposes.
ABOUT LIHT CANNABIS CORP.
www.lihtcannabis.com
Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht
has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and
are seeking expansion opportunities worldwide.
SOCIAL MEDIA:
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STOCK EXCHANGES:
Liht trades in Canada, ticker symbol LIHT on the CSE, in the United
States, and ticker symbol LIHTF on the OTCQX. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
Neither the CSE nor its Regulation Services Provider, nor the OTCQX® has approved nor disapproved the contents of this press
release. Neither the CSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.
MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by
regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in
which they operate.
Liht owns marijuana licenses in California and Nevada.
Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US
federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions
could affect their investments and that Liht's ability to access private and public capital could be affected and or could not be
available to support continuing operations.
Liht's business is conducted in a manner consistent with state law and is in compliance with licensing requirements.
Copies of licenses are posted on Liht's website. Liht has internal compliance procedures in place and has compliance focused
attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis.
These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.
FORWARD - LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and
other matters. Forward-looking statements consist of statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the
use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the
negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there
can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature,
forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific,
that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements
will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual
results, performances or achievements of the Company to be materially different from future results, performances or achievements
express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the
economy in general and capital markets in particular, present and future business strategies, the environment in which the
Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates
and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business,
economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of
activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without
limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing;
the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes
in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on
management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors
that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to,
continued availability of capital and financing and general economic, market or business conditions, the loss of key directors,
employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other
government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual
obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from
the Company's expectations include, litigation, global economic climate, loss of key employees and consultants, additional
funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are
cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not
to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required
by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the
expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange
has not reviewed, nor approved the contents of this news release.
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SOURCE Liht Cannabis Corp.
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