Namaste Enters Into $45 Million Bought Deal Equity Financing
26 Setembro 2018 - 8:30AM
NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
Namaste Technologies Inc. (TSXV:N)
(Frankfurt: M5BQ) (OTCMKTS: NXTTF) (“
Namaste” or
the “
Company”), is pleased to announce that it has
entered into a letter of engagement with Eight Capital, under which
Eight Capital has agreed to purchase, as co-lead underwriter and
joint bookrunner with Canaccord Genuity Corp., 15,000,000 units of
the Company (the “
Units”), on a “bought deal”
basis pursuant to a filing of a short form prospectus, subject to
all required regulatory approvals, at a price per Unit of $3.00
(the “
Issue Price”) for gross proceeds of
$45,000,000 (the “
Offering”).
The Company has agreed to grant the Underwriters
an over-allotment option to purchase up to an additional 15% of the
Units at the Issue Price, exercisable in whole or in part, at any
time on or prior to the date that is 30 days following the closing
of the Offering. If this option is exercised in full, an additional
approximately $6,750,000 will be raised pursuant to the Offering
and the aggregate proceeds of the Offering will be approximately
$51,750,000.
Each Unit will be comprised of one common share
of the Company (a “Common Share”) and one-half of
one Common Share purchase warrant (each full warrant, a
“Warrant”). Each Warrant shall entitle the holder
thereof to purchase one Common Share at an exercise price of $3.50,
for a period of 48 months following the closing of the
Offering.
The Company intends to use the net proceeds of
the Offering to fund inventory and for working capital and general
corporate purposes.
The closing date of the Offering is scheduled to
be on or about October 17, 2018 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture
Exchange and the applicable securities regulatory authorities.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
United States Securities Act of 1933, as amended, and applicable
state securities laws.
About Namaste Technologies
Inc.
Namaste Technologies is Your Everything Cannabis
Store™. Namaste operates the largest global cannabis e-commerce
platform with over 30 websites in 20+ countries under various
brands. Namaste's product offering through its subsidiaries
includes vaporizers, glassware, accessories, CBD products, and the
company will soon be selling medical cannabis through its wholly
owned subsidiary CannMart in the Canadian market. Namaste has
developed and acquired innovative technology platforms including
NamasteMD.com, and in May 2018 the Company acquired a leading
e-commerce AI and Machine Learning Company, Findify AB. Findify
uses artificial intelligence algorithms to optimize and personalize
a consumer's on-site buying experience. Namaste is focused on
leveraging its cutting-edge technology to enhance the user
experience throughout its platforms. Namaste will continue to
develop and acquire innovative technologies which will provide
value to the Company and to its shareholders as well as to the
broader cannabis market.
On behalf of the Board of Directors
“Sean Dollinger” Chief Executive Officer Direct:
+1 (786) 389 9771 Email: info@namastetechnologies.com
Further information on the Company and its
products can be accessed through the links below:
www.namastetechnologies.com
NamasteMD.com
NamasteVapes.ca
Everyonedoesit.ca
Forward-Looking Information
FORWARD-LOOKING INFORMATION This press release
contains forward-looking information based on current expectations.
These statements should not be read as guarantees of future
performance or results. Such statements involve known and unknown
risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different
from those implied by such statements. Although such statements are
based on management's reasonable assumptions, Namaste assumes no
responsibility to update or revise forward-looking information to
reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions
on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will
prove to be correct. Since forward-looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. These statements speak only as of
the date of this press release. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks including various risk factors discussed in the
Company's disclosure documents, which can be found under the
Company's profile on www.sedar.com. This press release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward
looking statements are made pursuant to the safe harbour provisions
of the Private Securities Litigation Reform Act of 1995.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this press
release.
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