Not intended for distribution to U.S. newswire services or dissemination within the United States
London, Ontario, March 12, 2024–(BUSINESS WIRE)–Indiva Limited (“company” or “indiva(TSXV:NDVA), Canada's leading edible cannabis producer, is pleased to announce the Company's second private placement under the Listed Issuer Loan Forgiveness of a minimum of 10,940,000 units (eachunit“), up to 40,940,000 Units at a price of $0.10 per unit, with a minimum gross return to the Company of $1,094,000 and a maximum gross return of $4,094,000 (“Recruitment“).
Each Unit consists of one common share in the capital of the Company (each a “common stock“) and one-half of the common stock purchase warrants (each entire warrant,”warrant).Each stock acquisition right is exercisable for one common share at a price of $0.15 per common share for a period of 36 months from the date of issuance. Comply with established conditions.
The Company reserves the right to trade at the volume-weighted average trading price of its Common Stock on the TSX Venture Exchange for any ten (10) consecutive trading days (“TSXV“) (or any other stock exchange or quotation system on which the common stock is primarily listed or listed) of $0.30 or more (“acceleration eventIf an Acceleration Event occurs, the Company shall notify holders of stock acquisition rights of the Acceleration Event within five business days from the date of the Acceleration Event.
This offering is being completed pursuant to the Listed Issuer Loan Forgiveness pursuant to Part 5A of National Instrument 45-106. Prospectus exemption Accordingly, the securities issued in the Offering will not be subject to any hold period under applicable Canadian securities laws. I have an offering document (“”).Provided documents“) are documents related to the offering, which can be accessed from www.sedarplus.ca and www.indiva.com under Company Profile. Prospective investors should read the offering documents before making an investment decision. .
The closing of the Offering may occur in one or more tranches, provided that the closing of the last tranche occurs on or before April 26, 2024, which is 45 days after the date of this Agreement. This offering is subject to certain conditions including, but not limited to, receipt of a minimum gross proceeds of $1,094,000 and his TSXV approval.
The Company intends to use the proceeds from the Offering for general corporate working capital purposes and capital expenditures, as further described in the Offering Documents.
Upon completion of an offering, we may pay certain eligible finders a cash fee of up to 8% of the gross proceeds raised in connection with the offering from subscribers referred to us by the offering. The Company may also issue such number of Founder's Warrants (each, a “finder warrant) represents 8.0% of the units sold under the Offering to Subscribers referred to the Company by such Finders. to acquire one common share at a price of $0.15 per common share for a period of 36 months from the date of issuance. The Company shall be entitled to accelerate the expiry date of the Finder's Warrant to the extent issued by him by 30 days in the event of an early event. Notify the holders of such Finder Guarantees of the Acceleration Event within five (5) Business Days after the date of the Acceleration Event.
In addition to our news release dated March 4, 2024, Loan Forgiveness for Listed Issuers (“first offering“''), the Company hereby advises that the period for consummation of the First Offering has expired and no other securities will be issued pursuant to the First Offering. Pursuant to the First Offering, the Company issued 9,060,000 Units for gross proceeds of $906,000.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor does it constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. No sale shall take place. The securities being offered have not been and will not be registered under the Securities Act Reform Act of 1933 (“1933 Act“) or under the U.S. state securities laws and offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws. I can not do it.
About Indiva
Indiva is proud to be Canada's largest edible cannabis producer. We set the gold standard in quality and innovation with our award-winning products across a wide range of brands including Pearls by Grön, Bhang Chocolate, Indiva Doppio Sandwich Cookies, Indiva 1432 Chocolate, and No Future Gummies and Vapes. Indiva brand extract. Indiva manufactures the highest quality products in a state-of-the-art facility in London, Ontario, and the company's employees are distributed in remote locations across Canada. Click here to connect with Indiva on LinkedIn and Instagram. Click here to learn more about the company and its products.
Disclaimer and advice to readers
general
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) assumes any benefit to the contents of this news release, and neither of the foregoing entities assumes any responsibility or liability for the adequacy or accuracy of the news release. We are not responsible for gender. We do not endorse this news release or approve or disapprove the contents of this news release in any way.
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. Words such as “may,” “intend,” “expect,” “believe,” “will,” “anticipate,” and “estimate” regarding matters that are not historical facts; The use of similar expressions and descriptions is intended to: Identifies forward-looking information and is based on the parties' current beliefs or assumptions regarding the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information regarding, among other things, the Company's expectations regarding the use of proceeds and the use of available funds following the completion of the offering and the completion of the offering and the date thereof. Such completion includes the number and timing of tranches of the offering. Various assumptions and factors are typically applied in drawing the conclusions and making the expectations and projections contained in forward-looking information. These assumptions and factors are based on information currently available to the Company and reflect the Company's future business objectives, goals and capabilities, the cannabis market, the regulatory framework applicable to the Company and its operations, and the Company's financial resources. Although the Company believes that the assumptions underlying and expectations reflected in the forward-looking statements in this news release are reasonable, there can be no assurance that such expectations will prove to be correct. there is no. Many factors could cause actual events, performance or results to differ materially from those anticipated in the forward-looking statements. In particular, readers are cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors that, if applicable, may cause the Company's actual results, performance or performance to be different from those expressed. Please note that future results, performance and performance may differ materially. including, but not limited to, risks and uncertainties associated with (i) the Company's available funds and the anticipated use of such funds; (ii) the availability of financing opportunities; and (iii) It will not be. ) legal and regulatory risks inherent in the cannabis industry; (iv) risks related to economic conditions; (v) dependence on management; (vi) public opinion and perception of the cannabis industry; (vii) third-party and (vii) risks related to the enforceability of the agreements; (viii) our reliance on the expertise and judgment of our senior management and our ability to retain such senior management; ) risks related to proprietary intellectual property and potential infringement; (x) risks related to industry growth management and/or increased competition; (xi) risks related to proprietary intellectual property and/or increased competition; risks associated with cannabis products; (xii) risks associated with the economy generally; and (xiii) litigation risks.
The forward-looking information contained in this news release is made as of the date of this news release, and the Company does not intend to make any forward-looking statements, whether as a result of new information or future events, as of the date of this news release. We have no obligation or obligation to update or correct information. Otherwise, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information because it involves risks, uncertainties and assumptions. The above statements expressly qualify the forward-looking information contained herein.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240312292063/ja/
contact address
Investor contact information
anthony simon
Phone: 416-881-5154
Email: ir@indiva.com
Neil Marotta, Chief Executive Officer
Phone: 613-883-8541
Email: contact@indiva.com
