Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - The BC Bud Corporation (CSE: BCBC) (OTC Pink: BCBCF) (FSE: W04) ("The BC Bud Co" or the "Company"), announces that it has closed an initial tranche of its previously announced (see news release dated January 9, 2025) non-brokered private placement (the "Placement").
Gross proceeds of $631,300 were raised through the sale of 8,417,332 units at a price of $0.075 per unit (each a "Unit"). Each Unit is comprised of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of $0.15 per share for a period of 24 months.
No finder's fees were paid in connection with the initial tranche of the Placement. All securities issued in the first tranche are subject to a statutory hold period expiring on May 18, 2025, in accordance with applicable securities legislation.
Net proceeds of the Placement will be utilized for business development and general working capital purposes.
Consulting and Awareness Agreement
The Company is also pleased to announce that it has entered into a consulting and awareness service agreement with Hillside Consulting & Media Inc (Stephen Gilberson 250-485-3615, hillsideconsultingmedia@gmail.com), an-arms-length service provider with a business address located at 474 Main St, Penticton, BC, V2A 5C5, to provide ad copy and content writing, search engine optimization, video and ad creation, email and SMS advertising, as well as content creation. Hillside will begin providing the services on the date hereof for a period of 2 months. In consideration of the services provided, the Company will pay Hillside a cash fee of $25,000 CAD per month.
About The BC Bud Co.
The B.C. Bud Co. is a house of brands created by industry professionals who are passionate about the user experience.
On behalf of the board of directors of The BC Bud Co.
Brayden Sutton
Chief Executive Officer and Director
Disclaimer
Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the anticipated use of the net proceeds of the Placement, and the engagement of Hillside Consulting, the expected length of the engagement, the expected services to be provided and the compensation expected to be paid by the Company in connection therewith. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will use the net proceeds of the Placement as currently anticipated, the engagement with Hillside Consulting will proceed as expected, the agreement with Hillside Consulting will not be terminated earlier and that the Company's business plans will remain unchanged. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not use the net proceeds of the Placement as currently anticipated, the engagement with Hillside Consulting will not proceed as expected, the agreement will Hillside Consulting will be terminated earlier, unanticipated costs and changes in the Company's business plans, regulatory changes, or other changes impacting the use of the net proceeds of the Placement.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237700
