TORONTO, Jan. 6, 2022 /CNW/ – Halo Collective Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announced that it has entered into a loan agreement (the “Loan Agreement“) with Global Tech Opportunities 6 (the “Lender“), pursuant to which the Lender will loan up to $14,000,000 (the “Loan Amount“) to Halo in two tranches of $7,000,000 each, subject to certain terms and conditions. Amounts advanced under the Loan Agreement are expected to be used to support Halo’s expansion into nutraceutical products (including Hushrooms), the completion of Halo’s Budega retail stores in North Hollywood, Hollywood, and Westwood, California and for general corporate purposes. The Loan Amount is unsecured and will bear interest at 8.0% per annum, and each tranche will be repayable in six equal monthly instalments (of blended principal and interest) of $1,194,039.62 per instalment (each, a “Payment Instalment“). The first Payment Instalment is to be made 30 days after the first advance is made under the Loan Amount and each subsequent Payment Instalment is due 30 days after the previous Payment Instalment. In the event that the Company elects not make a Payment Instalment in cash, the applicable Payment Instalment will be made through the issuance of a Convertible Debenture (as defined below), pursuant to the Subscription Agreement (as defined below).

In connection with the Loan Agreement, Halo: (i) paid the Lender a commitment fee of $350,000; and (ii) issued and committed to issue to the Lender 2,625,000 Common Share (as defined below) purchase warrants (the “Warrants“), each exercisable at a price of $1.60 for a period of five years from the date of the Loan Agreement. The Warrants will be issued in three equal tranches, with: (i) one-third of the Warrants being issued on the date of the Loan Agreement; (ii) one-third of the Warrants issuable 30 days following the date of the Loan Agreement; and (iii) one-third of the Warrants issuable 60 days following the date of the Loan Agreement. The Warrants do not include a cashless exercise provision.

The Lender is an investment fund managed by Alpha Blue Ocean (“ABO“) which was created in 2017 by Pierre Vannineuse, Hugo Pingray and Amaury Mamou-Mani. ABO is a young and dynamic investment fund manager with the mission of revolutionizing the financial industry by offering innovative financing solutions. ABO implements a direct, rational and efficient approach by offering alternative financing solutions. In other words, flexible solutions for listed companies also referred to as PIPEs (Private Investment in Public Equity). ABO has executed more than 75 transactions since its inception with financial engagements of more than €1.5bn. “We are pleased to announce our first bespoke financing deal with a North American senior exchange listed company that is one of the fastest growing vertically-integrated cannabis companies”, said Amine Nedjai, Chief Executive Officer of ABO. “Our innovative and tailored financing solution will provide Halo with the necessary capital to expand its already diversified portfolio for stellar growth in 2022. We are proud that Halo has chosen ABO as a partner given our experience with more than €1.5bn in financing commitments executed for companies across the globe since 2018.”

In addition, concurrently with the execution of the Loan Agreement, Halo and the Lender entered into a subscription agreement (the “Subscription Agreement“) that provides for the issuance of convertible debentures (each, a “Convertible Debenture“) to provide additional funding to the Company and to satisfy Payment Instalments. The Subscription Agreement provides for the issuance of up to 15 Convertible Debentures each with a principal amount of $1,230,968.68, subject to certain terms and conditions, representing an aggregate principal amount of up to approximately $19.3 million (including the Debenture Commitment Fee (as defined below)). Each Convertible Debenture will be issued at 97% of the face value principal amount. The Convertible Debentures will mature on the date that is 24 months from the date of issuance and are convertible: (i) at any time at the option of the holder; and (ii) automatically at maturity. The conversion price of the Convertible Debentures (the “Conversion Price“) is equal to the lower of: (i) $1.25; and (ii) the closing price of the common shares in the capital of the Company (“Common Shares“) on the NEO Exchange on the date immediately preceding the date on which a conversion notice is delivered to the Company (or, in the event of the automatic conversion of the outstanding principal upon the maturity of the Convertible Debenture, the maturity date). The Company shall be entitled to force the conversion of a Convertible Debenture each time the five-day volume weighted average price of the Common Shares exceeds $2.60, subject to the ability of the Company to force the conversion of additional Convertible Debentures in certain other circumstances.

In the event that the Conversion Price is greater than the lowest closing daily volume weighted average price observed over a period of fifteen (15) trading days immediately preceding the date of the relevant conversion notice (or, where no conversion notice is given, the relevant maturity date of the Convertible Debentures) (the “Theoretical Conversion Price“), the Company will be required to pay the Lender a make whole amount to compensate the Lender for the difference between the actual conversion price and the Theoretical Conversion Price (each, a “Make-Whole Amount“).

In connection with the Subscription Agreement, the Company has also paid the Lender a commitment fee of $650,000 and has agreed to pay the Lender an additional $200,000 in connection with the seventh tranche of Convertible Debentures (collectively, the “Debenture Commitment Fee“).

Upon the occurrence of certain events of default or a change of control, as set forth in the Subscription Agreement, the Convertible Debentures may, at the discretion of the Lender, be redeemed in cash prior to the maturity at price equal to 105% of the principal amount then outstanding.

Further information regarding the financing can be found in the Loan Agreement and the Subscription Agreement, each of which will be posted to Halo’s SEDAR profile on www.sedar.com.

About Halo Collective Inc.

Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately eleven million grams of oils and concentrates since inception. The Company continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo’s operational expertise in bringing top-tier products to market.

Halo currently operates in the United States in Oregon and California. The Company sells cannabis products principally to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa’s Herb®, DNA Genetics, Terphogz, and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.

As part of continued expansion and vertical integration in the U.S., Halo boasts several grow operations throughout Oregon and two planned in California. In Oregon, the Company has a combined 11 acres of owned and contracted outdoor and green house cultivation, including East Evans Creek, a six-acre grow site in Jackson County with four licenses owned and operated by Halo and two third-party licenses under contract to sell all of their product to Halo; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane County with a license owned and operated by Halo; and William’s Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo pending the closing of Halo’s acquisition of its licenses and business assets. Halo has recently acquired Food Concepts LLC, a master tenant of a 55,000 square foot indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated by the Pistil Point entities.

In California, the Company is building out Ukiah Ventures, a planned 30,000 square foot indoor cannabis grow and processing facility, which aims to include up to an additional five acres of industrial land to expand the site. Recently, Halo partnered with Green Matter in California to purchase the Farm in Lake County, developing up to 63 acres of cultivation, comprising one of the largest licensed single site grows in California. Halo also plans to expand its operations in California by opening three dispensaries under the Budega brand in North Hollywood, Hollywood, and Westwood.

In Canada, Halo acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the Company plans to expand its foothold in Canada.

Halo has also acquired a range of software development assets, including CannPOS, Cannalift, and, more recently, CannaFeels. In addition, Halo owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc. and expects to complete a distribution to shareholders on a record date to be determined by Halo.

Halo recently completed the sale of certain of its non-U.S. operations to Akanda Corp. (“Akanda”), whose mission is to provide high-quality and ethically sourced medical cannabis products to patients worldwide. As an independent company, Akanda is seeking to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda combines the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., a Lesotho-based cultivation and processing campus located in the world’s first Special Economic Zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of CanMart Ltd., UK-based fully approved pharmaceutical importer, and distributor that supplies pharmacies and clinics within the UK. With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today. Following the sale, Halo is Akanda’s largest shareholder.

For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com

Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram

Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to the repayment of the Loan Amount, the expected use of proceeds from the Loan Amount, the payment of any make-whole amount, the future payment of a portion of the Debenture Commitment Fee, the filing of the Loan Agreement and the Subscription Agreement, management’s plans regarding its portfolio of cannabis businesses, the Company’s expansion plans regarding Canada, the expected size and capabilities of the final facility planned at Ukiah Ventures, the size of Halo’s planned cultivation facility in Northern California, and the ability of Bophelo and Canmart to serve the UK market and the proposed spin-off by Halo Tek Inc.

By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions. Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: inability of management to successfully integrate the operations of acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo’s operations, delays in obtaining required licenses or approvals necessary for the build-out of Oregon operations, dispensaries or Canadian operations, the proposed spin-out with Halo Tek Inc., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo’s raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s annual information form dated March 31, 2021 and other disclosure documents  available on the Company’s profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.

Non-Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SOURCE Halo Collective Inc.

For further information: Halo Collective Inc., Investor Relations, [email protected], www.haloco.com/investors

Related Links

https://haloco.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

TORONTO and RIONEGRO, Colombia, Dec. 31, 2021 /CNW/ – PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. (“Holdings”), is pleased to announce that it has closed the first tranches of its previously announced non-brokered private placement (the “Offering”), consisting of an aggregate of 5,000 debenture units (each a “Unit”). The Units were issued at a price of $1,000 per Unit for aggregate proceeds of $5,000,000.

The Company closed an initial tranche of the Offering consisting of $4,000,000 principal amount of Units on December 24, 2021 and a further tranche consisting of $1,000,000 principal amount of Units on December 31, 2021. Insiders participated in this initial tranche of financing. The Company expects to close the issuance of up to an additional $10,000,000 principal amount of Units in one or more tranches on or about January 14, 2022.

The Company intends to use the proceeds from the Offering for operations, working capital and the build-out of its international psychoactive dry flower sales program.

Debenture Units

Each Unit consists of $1,000 principal amount of 11% secured debentures (“Debentures”) and 250 non-transferable common share purchase warrants (“Debenture Warrants”). Each Debenture Warrant entitles the holder to acquire one common share of the Company (each a “Common Share”) at an exercise price of $1.44 per Common Share until December 24, 2024 (subject to customary anti-dilution adjustments). The Debentures bear interest at a rate of 11% per annum, mature on December 24, 2024, and are guaranteed by Holdings. Holdings’ guarantee of the Debentures will be secured by mortgages on the real property of the Company and its subsidiaries. Interest payable on the Debentures may be paid by the Company in Common Shares at the Company’s option, subject to approval of the TSX Venture Exchange.

The Company has the right to redeem any or all of the Debentures from time to time at the following percentages of face value: (i) 105% at any time prior to December 24, 2022; (ii) 103% at any time on or after December 24, 2022 and prior to December 24, 2023; and (iii) 101% on or after December 24, 2023, in each case together with accrued and unpaid interest to, but not including, the date of redemption.

Upon a change of control of the Company, holders have the right to have their Debentures repurchased at 105% of face value plus accrued and unpaid interest to, but not including, the date of repurchase.

The Debentures, Debenture Warrants and any Common Shares issuable upon exercise of the Debenture Warrants are subject to a statutory hold period under applicable Canadian securities laws, expiring on April 25, 2022 with respect to Units issued on December 24, 2021 and May 1, 2022 with respect to Units issued on December 31, 2021. Debentures, Debenture Warrants and Common Shares corresponding to subsequent tranches of Units will be subject to a four-month hold period starting from the date of issuance of the applicable Units.

Certain directors and senior officers of the Company have subscribed for Units in the Offering, in an aggregate principal amount totaling $490,000. Each subscription by a director or senior officer of the Company is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each “related party” of the Company were not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 and the minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.5(a) and section 5.7(1)(a), respectively, of MI 61-101, as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company’s market capitalization.

About PharmaCielo

PharmaCielo Ltd. (TSXV: PCLO, OTCQX: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable processing and supplying of all natural, medicinal-grade cannabis oil extracts and related products to large channel distributors. PharmaCielo’s principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing center located in Rionegro, Colombia.

The board of directors and executive team of PharmaCielo are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia’s ideal location plays in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as “expects”, “is expected”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be completed or achieved. Forward-looking statements in this news release include, without limitation, statements regarding the proposed use of proceeds of the Offering and the closing of any future tranches of the Offering.

The forward-looking statements in this news release are necessarily based on assumptions, including assumptions with respect to PharmaCielo’s ability to obtain necessary approvals for the issuance of the Units.

Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including changes to PharmaCielo’s development plans, the failure to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products and the import of these products into other countries, TSX Venture Exchange approval, the inability to export or distribute commercial products through sales channels as anticipated due to economic or operational circumstances, risks associated with operating in Colombia, fluctuation of the market price for the Company’s products, risks associated with global economic instability relating to COVID-19 or other developments, risks related to retention of key Company personnel, currency exchange risk, competition in PharmaCielo’s market and other risks discussed or referred to under the heading “Risk Factors” in PharmaCielo’s Annual Information Form for the financial year ended December 31, 2019, which is available at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PharmaCielo Ltd.

For further information: Ian Atacan, Chief Financial Officer, +1 416-562-3220, [email protected]; Media and Investor Inquires: [email protected]

Related Links

http://www.pharmacielo.com

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

• Credit Facility provides the Company with liquidity to fund operations and organic growth initiatives
• Two-year term provides additional financial flexibility

TORONTO, Dec. 29, 2021 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) is pleased to announce the closing of a credit facility of up to $19 million (the “Credit Facility”).

“This financing improves our liquidity and capital structure as the Company’s senior secured debt obligations will now mature in December 2023 rather than in August 2022,” said Aleafia Health CEO Geoffrey Benic. “The transaction allows us to continue the growth of our core adult-use and medical cannabis sales channels, as we again expect to realize sequential growth in both channels over the previous quarter.”

The Credit Facility is financed by the Garrington Group of Companies, a Toronto-based private lender providing working capital financing to the underserved, small to mid-sized middle market sector across North America, providing credit facilities that generally range from $1 million to over $30 million. It consists of a revolving receivables facility of up to $7 million and a term loan of $12 million. The maturity date is December 2023. The term loan was fully drawn by the Company upon closing. The revolving receivables facility is expected to be drawn in January 2022 and further thereafter as receivables grow with the Company’s revenue. The interest rate is in-line with the Company’s existing credit facility and is payable monthly. The Credit Facility is secured primarily by way of first lien mortgages on the Company’s Paris, Ontario and Grimsby, Ontario production facilities, and includes customary financial and restrictive covenants. The net proceeds from the Credit Facility will be used to fund working capital, to repay $5 million in principal on the existing senior secured credit facility, announced on August 23, 2021 (the “August Credit Facility”), along with accrued interest and fees, and for general corporate purposes.

The term of the August Credit Facility has been extended from August 2022 to December 2023. In connection with that facility, a first lien mortgage will be granted on the Company’s Port Perry, Ontario outdoor cultivation property.

For Investor & Media Relations:

1-833-879-2533
[email protected]
LEARN MORE: www.AleafiaHealth.com

About Aleafia Health:

Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.

Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

The investment provides CaaMTech with capital to advance compounds from its library into clinical trials

ISSAQUAH, Wash., Sept. 08, 2021 (GLOBE NEWSWIRE) — CaaMTech, Inc., a leading psychedelic drug discovery company, has today announced the completion of a $22 million Series A financing round, led by Noetic Fund. The oversubscribed round of funding will be deployed to support CaaMTech’s industry-leading cross-disciplinary science program, expand the company’s leadership team, and advance its foremost drug development candidates into human trials.

“This Series A investment further substantiates our hypothesis that the future of the psychedelics industry depends on the strength of its foundation,” said CaaMTech founder and CEO, Dr. Andrew Chadeayne. “Now that we have built that foundation, we are grateful to partner with Noetic for the next steps. Their industry leadership and experienced team make Noetic the optimal partner to help shepherd these drugs to the patients who need them most.”

CaaMTech was founded in 2017 to fill the unmet need for pure, well-characterized psychedelic drugs. Since then, the company has produced an extensive library of novel, analytically pure compounds that are nearing advancement into human trials.

“CaaMTech’s extensive patent library, scientific and research-laden focus, coupled with their impressive leadership team and an unwavering commitment to pursuing drug development within the psychedelic industry make them one of the most formidable companies in this space,” said Sa’ad Shah, co-founder and managing partner of the Noetic Fund. “We could not be more excited about our support and investment in CaaMTech.”

CaaMTech has led the psychedelics industry in fundamental research, publishing tens of peer-reviewed scientific research publications. Through collaborations with the NIH’s Designer Drug Research Unit at the National Institute on Drug Abuse, the University of Massachusetts Dartmouth, and The Leibniz Institute for Natural Product Research, CaaMTech has built a cross-disciplinary team of world-class scientists, providing diverse subject matter expertise and a shared goal to advance the state of the art of the psychedelic industry. The successful completion of Series A funding will allow CaaMTech to continue its dedication to fundamental scientific research through continued academic collaboration while advancing individual drug candidates toward the clinic.

About CaaMTech
CaaMTech is the foremost drug discovery and lead optimization company focused on engineering psychedelic drugs that meet the standards of modern medicine. CaaMTech is improving the health and happiness of humankind by creating and optimizing psychedelic compounds and formulations through rigorous science and continuous innovation.

About Noetic
Noetic is a group of venture funds launched by Grey House Partners GP Inc. to invest in emerging and early-stage psychedelic and CNS companies, addressing global unmet healthcare needs such as mental health conditions, substance use disorders, and distinct inflammatory-related ailments. Noetic has built a team with the deep domain expertise required to appraise opportunities in this nascent sector: from neuroscience and pharmacology through to regulatory pathways and health economics. The firm is committed to scaling the disruptive potential of psychedelics in a responsible manner, with a core mission of supporting the development of innovative technologies that help define a healthy future for people and the planet.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

• Credit Facility provides financial capacity to pursue accretive growth opportunities
• New debt lender increases financial flexibility with new source of capital
• Improves liquidity by growing cash and marketable securities balance to $25 million

TORONTO, Aug. 23, 2021 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”), a leader in cannabis wellness products and services, is pleased to announce the closing of a $10 million senior secured term (non-revolving) credit facility (the “Credit Facility”).

“This Credit Facility provides us with greater financial flexibility to pursue strategic opportunities and continue the robust sales growth realized during our most recent quarter. This transaction improves our capital structure and provides a lower cost of capital that we believe directly benefits our shareholders,” said Aleafia Health CEO Geoffrey Benic. “Our sales momentum across multiple adult-use product categories, continued scaling of our medical cannabis ecosystem, and the near-term harvest of our largest outdoor cannabis crop to date sets the stage for a strong second half of 2021.”

The full amount of the Credit Facility was drawn down by the Company on closing. The Credit Facility carries a 12-month term, with an option for early repayment, and accrues interest at a rate of 12% per annum, with the interest and principal amounts due upon maturity. The outstanding amount of the Credit Facility together with accrued and unpaid interest thereon, may be repaid by the Company at any time and also includes certain mandatory prepayment obligations upon certain specified incurrences. The Credit Facility is secured by first lien mortgages on the Paris, Ontario and Grimsby, Ontario production facilities.

As partial consideration for the Credit Facility, the Company has granted to the lender 1,000,000 common share purchase warrants (the “Warrants”) of the Company. Each Warrant entitles the holder thereof to acquire one common share (each, a “Warrant Share”) in the capital of the Company at an exercise price of $0.32, subject to adjustment in certain circumstances, until August 20, 2023. The Warrants vest in equal instalments of 250,000 Warrants commencing on November 20, 2021, and subsequently every three (3) months thereafter, subject to adjustment in certain circumstances. The Warrants are not transferable other than to affiliates of the lender.

The Toronto Stock Exchange has conditionally approved the listing of the Warrant Shares issuable on the due exercise of the Warrants. The Warrants and the Warrants Shares are subject to a statutory holder period in accordance with applicable securities laws.

The net proceeds from the Credit Facility are expected to be used to support accretive growth initiatives, including improved product availability in the adult-use business, accelerating onboarding of new employer relationships under the exclusive Unifor agreement, operational efficiency enhancements on the production lines at its manufacturing facility in Paris, Ontario, and for other general corporate purposes.

For Investor & Media Relations:

Nicholas Bergamini, VP Investor Relations
1-833-879-2533
[email protected]
LEARN MORE: www.AleafiaHealth.com

About Aleafia Health:

Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.

Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Specific forward-looking information contained in this release includes information relating, but not limited, to the Credit Facility, including the use of the net proceeds from the Credit Facility, and the Warrants. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, British Columbia, June 16, 2021 (GLOBE NEWSWIRE) — Brains Bioceutical Corp. (“Brains” or the “Company”) is pleased to announce the completion of a USD $31.9 million capital raise with DSM Venturing and existing Brains shareholders. DSM Venturing, who acted as lead investor in this round, is the corporate venture arm of Royal DSM (“DSM”), a global, purpose led science-based company active in health, nutrition and sustainable living. This landmark investment and strategic transaction solidifies Brains’ position as one of the leading pharmaceutical companies in the cannabinoid (CBD) sector. Del Morgan & Co. acted as Brains’ financial agent in respect to the capital raise.

“The completion of the capital raise marks an exciting milestone for the Brains’ team. To have the confidence of DSM in this next round solidifies Brains strategic position within the pharmaceutical industry,” said Brains’ CEO & Chairman Rick Brar. “The growing demand for isolated CBD Active Pharmaceutical Ingredients (API’s) within the pharmaceutical and nutraceutical industry continues to expand. Our team has worked tirelessly to position Brains as the market leader within the CBD industry. Our suite of licences has allowed Brains to scale rapidly within the industry,” Brar continued.

Pieter Wolters, Managing Director DSM Venturing, commented: “The CBD market is fast-growing, powered by increasingly strong scientific evidence that demonstrate the potential of CBD API’s in a number of therapeutic areas. Also, consumers increasingly turn to CBD’s to address health issues. Brains unparalleled expertise and manufacturing capabilities in the CBD space combined with DSM’s unique scientific and marketing capabilities in the pharmaceutical sector make this the ideal partnership to help pharmaceutical players realizing the potential of CBD’s for early stage drug development.’’

Brains is one of a few companies in the world producing CBD as an API for pharmaceutical applications, research, development, and clinical trials. It is also one of the rare few manufacturers in commercial production in Europe with EU-GMDP certification, producing CBD API for both human and veterinary use within a MHRA licensed facility. Brains’ CBD API—its primary offering to the market—contains 99.7% CBD and zero Tetrahydrocannabinol (THC).

Advancements made by Brains in the development of pure, natural CBD benefit the scientific and health care community on a global level. Brains phyto-cannabinoid pure CBD API has successfully been tested by the INRS Laboratory, a World Anti-Doping Agency (WADA) facility. These screening reports have confirmed that Brains’ CBD API is free of THC, pesticides and other banned substances listed by WADA. Brains is first of its kind in the industry to get such a confirmation from a WADA-accredited laboratory for the purity of its CBD and the absence of prohibitory substances. WADA has removed CBD from its banned substance list. All activities undertaken in the UK are in accordance with UK law and subject to routine, periodic inspection by UK authorities.

Brains has also launched its branded nutraceutical CBD “Brains Pure” products in top tier health and wellness retail and pharmacy chains in the UK. All Brains’ products—whether Brains-branded or white-labeled—including a partnership with a leading UK vitamin company, will bear the ‘Brains Inside®️’ trademark, providing a stamp of quality assurance. Brains is also well positioned to navigate the strict Novel Foods requirements in the UK from the Food Standards Association (FSA) and in Europe by the European Food Safety Authority (EFSA) for CBD products. The Brains partnership with DSM Venturing will allow the company to take advantage of strategic partnerships that DSM has developed since their initial inception in 1902.

ABOUT BRAINS BIOCEUTICAL CORP.

Brains Bioceutical Corp. is a leader in EU-GMP-certified production of naturally sourced active pharmaceutical ingredients (APIs) for the pharmaceutical and nutraceutical industries. Brains Bioceutical is one of the only natural plant-based cannabinoid active pharmaceutical ingredient (API) manufacturers in commercial production today and is involved in academic and clinical trials across the globe. Brains’ Senior Management Team is comprised of a rare hybrid of pharmaceutical and consumer goods executives-having held C-suite and other senior positions with companies such as GW Pharma, Merck, Danone, Earthbound Farms, International Herbs, Cascadia Specialties and The Royal Navy. Brains’ wholly owned subsidiary in the UK, BSPG Laboratories, is one of only a few companies that has the commercial capability and EU-GMDP certification to produce CBD API.

About DSM Venturing

DSM Venturing is the corporate venture arm of Royal DSM – a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM’s purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world’s biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam.

More information can be found at www.dsm.com/venturing.

CAUTIONARY STATEMENT:

This news release contains forward looking statements or forward-looking information (“forward-looking statements”) within the meaning of securities laws. Often, but not always, forward looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Risks, uncertainties and other factors involved with forward-looking statements could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, 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. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.