Cannabis Wheaton Announces Closing of $115 Million Bought Deal Financing and Exercise in Full of Underwriters’ Over-Allotment Option

Cannabis Wheaton Income Corp. (TSX.V:CBW) is pleased to announce the closing of its previously announced bought deal public offering of 82,225,000 units of the Company, which includes the full exercise of the over-allotment option granted to the underwriters, at a price of C$1.40 per Unit for gross proceeds of $115,115,000.  The syndicate of underwriters for the Offering was led by BMO Capital Markets, together with AltaCorp Capital Inc., Mackie Research Capital Corporation and INFOR Financial Inc.

Each Unit consists of one common share (“Common Share”) of Cannabis Wheaton and one-half of one common share purchase warrant (each whole common share purchase warrant a “Warrant”) of Cannabis Wheaton. Inclusive of the exercise of the over-allotment option, 41,112,500 Warrants were issued under the Offering. Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of C$1.85 per Common Share, for a period of 24 months following the closing date.

The Company plans to use the net proceeds from the Offering for capital expenditures relating to domestic and international operations and capacity expansion, for potential new investment opportunities and for general working capital purposes.

The Offering was completed by way of a prospectus supplement and an accompanying short form base shelf prospectus of the Company, in all of the provinces in Canada, except Quebec.

About Cannabis Wheaton (TSX.V: CBW)

Cannabis Wheaton is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.

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