Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the
“
Company” or "
Blueberries"), a
leading Latin American licensed producer of medicinal cannabis and
cannabis-derived products, announces a non-brokered private
placement of up to 12,000,000 units (the “
Units”)
at a price of C$0.25 per Unit for gross proceeds of up to
C$3,000,000 (the “
Offering”). Each Unit will
consist of one common share in the capital of the Company (a
“
Share”) and one Share purchase warrant (a
“
Warrant”). Each Warrant shall entitle the holder
to acquire one Share at a price of C$0.35 for a period of 24 months
following the completion of the Offering. Closing of the Offering
is expected to occur on or about August 27, 2019.
A 7% finder’s fee will be payable in cash in
respect of subscriptions sourced by eligible finders, together with
the issuance of finder warrants (the “Finder
Warrants”) equal to 7% of the Units placed by eligible
finders in connection the Offering. Each Finder Warrant shall
entitle the holder to acquire one Unit for C$0.25 for a period of
24 months following the completion of the Offering.
The net proceeds from the sale of the Units will
be used to expand the business of the Company, and for working
capital and general corporate purposes.
About Blueberries Medical
Corp.Blueberries is a Latin American licensed producer of
naturally grown premium quality cannabis with its primary
operations ideally located in the Bogotá Savannah of central
Colombia and operations currently being established in Argentina.
The Company is led by a specialized team with proprietary expertise
in agriculture, genetics, extraction, medicine, pharmacology and
marketing, Blueberries is fully licensed for the cultivation,
production, domestic distribution, and international export of CBD
and THC-based medical cannabis in Colombia. Blueberries’
combination of leading scientific expertise, agricultural
advantages and distribution arrangements has positioned the Company
to become a leading international supplier of naturally grown,
processed, and standardized medicinal-grade cannabis oil extracts
and related products.
Additional information about the Company is
available at www.blueberriesmed.com. For more information, please
contact:
Camilo Villalba, Chief Operating Officer
cvillalba@blueberriesmed.comTel: +57 (313) 483 0131
Ian Atacan, Chief Financial
Officeriatacan@blueberriesmed.comTel: +1 (416) 562 3220
Jessika Angarita, Pacta Relations
angarita@pactarelations.comTel: +1 (305) 877 4710
Cautionary Note Regarding
Forward-Looking InformationThis news release contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward looking statements") within the meaning of
the applicable Canadian securities legislation. All statements,
other than statements historical fact, 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 (often but not always using phrases such as “expects”,
or “does not expect”, “is expected”, “anticipates” or “does not
anticipate”, “plans”, “budget”, “scheduled”, “forecasts”,
“estimates”, “believes” or “intends” or variations of such words
and phrases or stating that certain actions, events or results
“may” or “could”, “would”, “might” or “will” be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking statements. In this news release, forward looking
statements relate, among other things, to: the completion of the
proposed Offering, the proposed use of the net proceeds from the
Offering, and the Company’s objectives, goals, and future
plans.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: fluctuations
in general macroeconomic conditions; fluctuations in securities
markets; expectations regarding the size of the Colombian and
international medical cannabis market and changing consumer habits;
the ability of the Company to successfully achieve its business
objectives; plans for expansion; political and social
uncertainties; inability to obtain adequate insurance to cover
risks and hazards; and the presence of laws and regulations that
may impose restrictions on cultivation, production, distribution
and sale of cannabis and cannabis related products in Colombia,
Argentina and elsewhere; and employee relations. Although the
forward-looking statements contained in this news release are based
upon what management of the Company believes, or believed at the
time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release. The
Company assumes no obligation to update the forward-looking
statements of beliefs, opinions, projections, or other factors,
should they change, except as required by law.
Additional information regarding the Company,
and other risks and uncertainties relating to the Company's
business are contained under the heading “Risk Factors” in the
Company's Listing Statement dated January 31, 2019 filed on its
issuer profile on SEDAR at www.sedar.com.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein.
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