(NRTH.V) Apr. 18, 2019 – 48North Cannabis Corp., a vertically integrated cannabis producer focused on the development of next-generation cannabis products, announced that it is accelerating the expiry of certain share-purchase warrants bearing an expiration date of Dec. 2, 2020.
The certificate evidencing the warrants provided for acceleration in certain circumstances which were met with the closing of the $28.75 million bought-deal public offering of units on Apr. 2. Accordingly, warrant holders were provided with notification that any warrants that were not exercised before 5 p.m. EST on May 2, being the 30th day following the occurrence of the acceleration event, would expire and be cancelled.
Accordingly, if all of the remaining outstanding 18,038,090 warrants available after the Apr. 2, 2019 acceleration date are exercised, gross proceeds to the company will total $13,528,567.
48North Cannabis is a vertically integrated cannabis company focused on the health and wellness market through cultivation and extraction, as well as the creation of innovative, authentic brands for next-generation cannabis products. 48North is developing formulations and manufacturing capabilities for its own proprietary products, as well as positioning itself to contract manufacture similar products for third parties.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.