CannaRoyalty Corp. Receives Receipt for Final Prospectus for Previously Announced Bought Deal Financing and Announces Cancellation of Early Warrant Exercise Incentive Program
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All financial figures in Canadian Dollars ($) unless otherwise noted
Ottawa, Canada – April 9, 2018 – CannaRoyalty Corp. (CSE:CRZ) (OTCQX:CNNRF) (“CannaRoyalty” or the “Company”) announced today that it has received a receipt for a final prospectus (the “Prospectus”) of the Company from the securities regulators in each of the provinces of Canada (other than Quebec) with respect to its previously announced $15,000,000 bought deal offering of units of the Company (the “Offering”).
The Offering is expected to close on April 13, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including approval of the Canadian Securities Exchange and applicable securities regulatory authorities.
Cancellation of Early Warrant Exercise Incentive Program
Further to the Company’s March 21, 2018 press release disclosing a proposed warrant exercise incentive program, the Company has determined that it would not be practical to proceed with the program under this Prospectus due to timing constraints. The Company intends to announce a new program providing an early exercise incentive to holders of certain of its outstanding common share purchase warrants in due course.
About CannaRoyalty Corp.
CannaRoyalty is an active investor and operator in the legal cannabis industry. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio. CannaRoyalty’s shares trade on the Canadian Securities Exchange (CSE) under the symbol CRZ and internationally on the OTCQX under the symbol CNNRF.
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Jonathan Ross, CFA
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