International Cannabrands Inc.
Thursday, August 09, 2018 - 9:00 AM EDT

International Cannabrands Enters into $10 Million Equity Facility with New York Private Equity Firm Alumina Partners LLC

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Calgary, Alberta (FSCwire) - International Cannabrands Inc. (CSE:JUJU.A) (the “Company”) is pleased to announce that it has entered into a non-binding agreement for a draw-down equity facility of up to CDN$10,000,000 over a term of 24 months. The agreement provides for equity private placement offerings (the “Offerings”), to be conducted between the Company and Alumina Partners (Ontario) Ltd. (“Alumina Partners”), a subsidiary of Alumina Partners LLC, a New York based private equity firm.

 

The draw downs are at the sole discretion of the Company and may be for up to $1,000,000 per draw down and would consist of the issuance by the Company of units, whereby each unit consists of one common share (a “Common Share”) and up to one common share purchase warrant (each whole warrant, a "Warrant"), and each unit being purchased at a discount ranging from 15% to 25% of the then current market price of the Common Shares on the Canadian Securities Exchange (the “CSE”). Alumina Partners will only receive a full warrant when an Offering is priced at or above $0.30.  The exercise price of the Warrants will be at a 25% premium over the then current market price of the Common Shares and will provide for an accelerated expiry should the Company’s Common Shares trade on the CSE, for a period of 10 consecutive trading days, at a premium of at least 100% above the warrant exercise price.

 

The purpose of the Offerings is to provide the Company with financial flexibility and control over the financing of its working capital requirements, and provide access to capital as deemed necessary by the Board of Directors of the Company.

 

Steve Gormley, President and CEO commented: “We are excited to work with Alumina Partners who have an excellent reputation in financing companies in the emerging Cannabis space. Access to this capital combined with our other financing efforts will enable us to move forward with the completion of the acquisition of La Vida Verde, the Company’s first accretive, highly valuable investment and acquisition.”

 

“We are seeing the highest margins and revenue growth in the ultra-premium cannabis space. Combining strong brands with increasingly diverse product offerings through a highly selective acquisitions roadmap is a winning combination, and we are proud to stand behind International Cannabrands as they aggressively execute on that strategy moving forward,” added Adi Nahmani, Alumina’s Managing Member.

 

About International Cannabrands (ICI)

 

ICI acquired the exclusive rights to Julian Marley's JuJu Royal™ brand. ICI currently generates revenue from licensing brands to growers, edible manufacturers, oil extractors, producers of ancillary products and apparel in the United States where cannabis has been legalized at the state level, as well as products containing CBD in the US and internationally. ICI intends on acquiring micro brands with highly profitable operations in the cannabis space.  The Company believes as the market becomes saturated with products varying in potency and quality, that the branded products will rise to the top and the Company intends to exploit all opportunities available to realize the full value of the Julian Marley brand and other brands.

 

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 using the best solventless technology. One percent of proceeds are distributed for the benefit of veterans using cannabis through the Weed for Warriors Project. More information about the brand and various products can be obtained at www.jujuroyal.net. International Cannabrands Ltd is continuing to work with Julian Marley to identify and develop future strains of marijuana that meet Julian’s exacting standards. The Company is continuing to conduct research and development with certain origin genetics to produce additional signature Julian Marley strains for the JuJu Royal Premium Marijuana collection. The intent is to make these strains available to dispensaries and caregivers on a worldwide basis where it is legal.

 

International Cannabrands Contact:

Steve Gormley

CFN Media Contact:

Chief Executive Officer

Frank Lane (206) 369-7050

1045 Lincoln Street, #106

flane@cannabisfn.com

Denver, Colorado 80203

 

Ph (323) 828-4321 or steve.gormley@intlcannabrands.com

 

Media Inquiries: media@jujuroyal.net

 

 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

 

Forward Looking Statements

 

This news release contains forward-looking statements relating to the proposed issuance of securities by the Company to Alumina. There is no assurance that the draw-down of one or more Offerings will be completed or whether the Company will be able to realize all the expected benefits therefrom. These forward looking statements involve risks and uncertainties. Events or circumstances may cause actual results to differ materially from those anticipated as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company or the parties to the agreement. These include legal and regulatory changes, the impact of general economic, industry and market conditions; expectations regarding market demand for particular products, the dependence on new product development; and the impact of product competition. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.  The forward-looking statements contained in this news release are made as of the date of this news release and Management of the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.







Source: International Cannabrands Inc. (CSE:JUJU.A, OTC Bulletin Board:GEATF)

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