International Cannabrands Announces Board Change and Closing of Private Placement
Calgary, Alberta (FSCwire) - International Cannabrands Inc. (CSE:JUJU) (the “Company”) announced today that Jeffrey Britz has resigned as a director of the Company. Steve Gormley, CEO commented: “We wish to send our heartfelt thanks to Jeffrey for his years of service and critical role in founding the Company. We wish him and his family all the best in the future.”
The Company also wishes to announce it completed a non-brokered private placement of 3,774,237 units at a price of $0.021 per unit for gross proceeds of $792,590, with each unit consisting of one common share and one half of one share purchase warrant. Each whole warrant entitles the holder to acquire a common share at a price of $0.30 per share for a period of twelve months, subject to the ability of the Company to accelerate the expiry date if at any time during the term of the warrants the volume weighted average closing price of the Common Shares on the CSE is $0.50 or more for 10 consecutive trading days. The common shares and warrants bear a four month hold period from the date of issue.
About International Cannabrands (ICI)
The Company’s business model is to generate revenue from cannabis cultivation, brands ranging from flower to edibles and from THC to CBD, oil extraction, ancillary products and apparel in the United States. ICI markets products with THC content where that practice has been legalized at the state level through either medicinal or full recreational use. ICI also markets products containing CBD in the US and internationally. ICI’s strategy centers on acquiring micro brands, distribution and specific manufacturing/cultivation companies in the cannabis space. ICI has acquired the exclusive rights to Julian Marley's JuJu Royal™ brand. The Company believes as the legal cannabis market evolves, high-quality, unique products will increasingly capture market share and provide a valuable platform for growth.
About JuJu Royal
Julian Marley conveys his message of legalization, freedom, and love through the JuJu Royal brand, a line of naturally produced medicinal herbs. Our vision is to realize the opportunity to become one of the largest brands in the Marijuana industry. The synergy between the Rastafarian culture, music, natural products and an “Irie” experience is a powerful foundation for our business. JuJu’s strategy is to develop and grow a complete cannabis line based on an international appeal to a millennial lifestyle seeking a luxurious and premium experience. JuJu will capitalize on the unparalleled opportunity to position itself with unique, innovative, high quality brands that meet and exceed our customer’s expectations. More information about the brand and various products can be obtained at www.jujuroyal.net.
International Cannabrands Contact:
Chief Executive Officer
1045 Lincoln Street, #106
Denver, Colorado 80203
Ph: (323) 828-4321 or email@example.com
Media Inquiries: firstname.lastname@example.org
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Source: International Cannabrands Inc. (CSE:JUJU, OTC Bulletin Board:GEATF)
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