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Mota Ventures $ Raises $2.8 Million in Additional Private Placement $ $GBLX $PFE $ $ $ $ $ $CGRW

Posted by AGORACOM at 8:03 AM on Wednesday, April 22nd, 2020

VANCOUVER, BC / ACCESSWIRE / April 22, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTCPINK:PEMTF) (the “Company“) is pleased to announce that it has completed a further offering (the “Offering“) of 9,944,000 units (each, a “Unit“) by way of non-brokered private placement at a price of $0.28 per Unit for gross proceeds of $2,784,320. Each Unit consists of one common share of the Company, and one common share purchase warrant (each, a “Warrant“) exercisable to acquire an additional share at a price of $0.38 for a period of twenty-four months, expiring on April 21, 2022. When combined with the earlier offering completed by the Company on April 1, 2020, the Company has raised gross proceeds of $4,504,320.

The Company anticipates utilizing the proceeds of the Offering to further develop and market products in North America and Europe using its ecommerce sales channels, to satisfy compensation obligations owing to employees based on services provided to the Company and the satisfaction of performance metrics and for general working capital purposes. In connection with completion of the Offering, the Company has paid $75,120 and issued 262,857 common shares and 268,287 Warrants to certain arms-length parties who assisted in facilitating the Offering. The Company has also issued 142,857 Warrants to an arms-length consultant, as partial consideration for services provided to the Company.

All securities issued in connection with the Offering are subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

About Mota Ventures Corp.

Mota Ventures is seeking to become a vertically integrated global CBD brand. Its plan is to cultivate and extract CBD into high-quality value-added products from its Latin American operations and distribute it both domestically and internationally. Its existing operations in Colombia consist of a 2.5-hectare site that has optimal year-round growing conditions and access to all necessary infrastructure. Mota is looking to establish sales channels and a distribution network internationally through the acquisition of the Sativida and First Class CBD brands. Low cost production, coupled with international, direct to customer sales channels will provide the foundation for the success of Mota Ventures.


Joel Shacker

For further information, readers are encouraged to contact Joel Shacker, President, at +604.423.4733 or by email at [email protected] or

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