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Loop Insights $MTRX $RACMF Completes Acquisition of Intellectual Property Assets of Locally, A Global Location Data Intelligence Company With Tier-1 Clients $AT.ca $QTRH.ca $SNSR $BSQR $PTS.ca

Posted by AGORACOM-JC at 8:24 AM on Thursday, February 18th, 2021
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  • Announced the completion of its previously announced acquisition of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally pursuant to an asset purchase agreement between the Company and Locally dated February 16, 2021
  • Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.

VANCOUVER, British Columbia, Feb. 18, 2021 — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (“ Loop ” or the “ Company ”), a provider of contactless solutions and artificial intelligence (” AI “) to drive automated marketing, venue tracing, and contactless solutions to the brick and mortar space, is pleased to announce the completion of its previously announced acquisition (the “ Acquisition ”) of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally (“ Locally ”) pursuant to an asset purchase agreement between the Company and Locally dated February 16, 2021 (the “ APA ”). Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.

Locally Acquisition Provides Loop Insights with Unparalleled Location-Based Retail Insights, Foothold in $28.95-billion Location-Based Services Industry

Rampant digitization and the increasing use of smartphones have helped grow the location-based services market to $28.95 billion in 2019, according to Allied Market Research .

As a leader in human movement intelligence data, Locally has positioned itself to enable businesses to connect their physical and digital databases through mobile location insights and marketing integration capabilities. Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioral insights across all of their marketing activation channels.

The acquisition of Locally will allow Loop Insights to incorporate Locally’s location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.

Loop Insights CEO, Rob Anson, stated: ”The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences. The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location. With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”

Loop’s enhanced location-based capabilities will be applicable to nearly all of its clients, creating meaningful, dynamic, and personal connections with consumers, while providing retailers with unparalleled retail insights. By connecting transaction information to the unique IDs of users, Loop is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.

Read More: https://agoracom.com/ir/LoopInsights/forums/discussion/topics/755570-loop-insights-completes-acquisition-of-intellectual-property-assets-of-locally-a-global-location-data-intelligence-company-with-tier-1-clients/messages/2304166#message

VIDEO – Novamind $NM.ca Is Building the Infrastructure Required for a Regulated Psychedelics Industry $RVV.ca $MMED $PSYC.ca $FTRP.ca $CMPS $NUMI.ca

Posted by AGORACOM-JC at 4:11 PM on Wednesday, February 17th, 2021

The global behavioural health market size is expected to reach approximately US$ 245 billion by 2027 and estimated to grow at CAGR of 2.5 % over the forecast time frame 2020 to 2027. 

As a consequence of the increasing incidence of mental health disorders, global demand for mental health facilities is increasing.

Psychedelics are going to go through parabolic, paradigm-shifting growth because of their ability to treat anxiety and depression amongst other things

Novamind is a leading mental health company specialized in psychedelic medicine, building the infrastructure required for a regulated psychedelics industry.

Highlights:

  • Rapidly expanding a network of outpatient mental health clinics and research sites
  • 4 clinics in Utah, 1 more anticipated this quarter
  • Provides ketamine-assisted psychotherapy and Spravato™ (esketamine) treatments;
    • Ketamine treatment volume grew 90% from 2019 to 2020
    • During the same period, total Spravato™ treatments rose 400%
  • Positioned to facilitate MDMA and psilocybin therapy post-FDA approval
  • Building centers of excellence for future approved psychedelic treatments
  • Approximately CAN$1,900,000 in 2019 revenue
  • Strong insider ownership (32.3%)

Watch this powerful interview with Dr. Reid Robison, Chief Medical Officer and Director of Novamind.

Limitless Integrations to Utilize Draganfly $DFLY.ca $DFLYF Drones and AI Technology to Integrate Into its Mobile Onsite Detection Platform $FLT.ca $UAVS $ALPP

Posted by AGORACOM-JC at 9:23 AM on Wednesday, February 17th, 2021
  • Announced that it will provide drones and the Vital Intelligence detection AI technology for integration with the patent pending iDENT Mobile Onsight Detection Systems (“MODS”) offered by Limitless Integrations LLC
  • iDENT MODS platform is a self-contained turn-key entrance gateway designed to be rapidly deployed to locations requiring secure high throughput flow with instant secure access into any venue

Los Angeles, CA, Feb. 17, 2021 — Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) (FSE: 3U8) (“Draganfly” or the “Company”), award-winning, industry-leading drone solutions, and systems developer, today announced that it will provide drones and the Vital Intelligence detection AI technology for integration with the patent pending iDENT Mobile Onsight Detection Systems (“MODS”) offered by Limitless Integrations LLC (“Limitless Integrations”).

The iDENT MODS platform is a self-contained turn-key entrance gateway designed to be rapidly deployed to locations requiring secure high throughput flow with instant secure access into any venue. The iDENT MODS can be utilized at festivals, worksites, military security perimeters, emergency response locations, and any scenario with high traffic volumes that require instant security.

With over 25 years of experience, Limitless Integrations offers its clients high-quality, reliable commercial and industrial physical security and health safety solutions. These solutions are specifically designed to meet the unique demands of venues and facilities of any size.

Draganfly will provide drones, tethered or otherwise for observation and threat detection for the perimeters where the Limitless iDENT MODS platforms are being utilized. The software on the drones can be used for general observation and security including possible weapons detection.

“Draganfly will provide the perfect partnership in enabling our MODS units to have a thorough screening process by way of their Vita Intelligence Technology delivered by drones,” said TJ Dooley CEO and co-founder of Limitless Integrations. “The technology solution that Draganfly offers will enhance the ability for our clients across a multitude of industries to provide a safe experience.”

“Draganfly is honored to have its technology and drones integrated into the incredible Limitless iDENT MODS platform. Helping provide the ability to securely and safely open venues or critical locations such as emergency response scenarios.”

Read More: https://agoracom.com/ir/Draganfly/forums/discussion/topics/755500-limitless-integrations-to-utilize-draganfly-drones-and-ai-technology-to-integrate-into-its-mobile-onsite-detection-platform/messages/2304012#message

VIDEO – TAAT Lifestyle & Wellness $TAAT.ca $TOBAF Launches ” Beyond Tobacco™️” In 39 States To Become The “Beyond Meat” Of Cigarette Industry

Posted by AGORACOM-JC at 9:17 AM on Wednesday, February 17th, 2021
TAAT

Beyond Meat has become an $11 BILLION company by creating products designed to emulate beef.  

Non-Alcoholic beer is now an $18 BILLION market by creating products designed to emulate alcoholic beverages. 

The basis of success for each has come from delivering the experience meat eaters and beer drinkers have come to love, without any of the negative health effects.   

TAAT™ Beyond Tobacco™ mimics the experiences of cigarettes without nicotine or tobacco.  It is engineered to closely emulate the sensory components of smoking a tobacco cigarette, including tasting and smelling just like tobacco.  

E-cigarettes and vaping have failed despite existing for 15 years, driving most smokers back to cigarettes because they only perpetuate the problem of nicotine addiction while delivering a completely different user experience to smokers. 

Under the leadership of experienced veterans from the tobacco industry, including and especially Philip Morris International, TAAT™ launched in the United States just 9 weeks ago and has already received repeat orders from more than 60% of convenience and gas station customers.  

How good was this launch?  

“Out of all of the tobacco category products I have worked with, TAAT™ is an outlier in terms of the level of demand it has had in its early stages. I have launched dozens of new tobacco brands across Canada as well as in the Caribbean, and while many of the new products were reordered by retailers in their first several weeks on the market, none of them were reordered by anywhere near 60% of stores that initially carried them. …. I have confidence that we could replicate these outcomes both in Ohio and in other markets where we may introduce TAAT™ in the future.”  – TAAT Chief Revenue Officer Tim Corkum (former commercialization executive for Philip Morris International)   

How big is the market TAAT is going after?  Tobacco is used by: 

  • 34M adults in America, equating to 215 BILLION cigarettes sold in 2018
  • 1.3 billion people worldwide 

… and almost all of them aspire to leave nicotine behind.  Beyond Tobacco™ from TAAT is about to give them what they want and, if they succeed, give shareholders “Beyond Belief” returns in the next 2-3 years.

Watch this great interview with CEO Setti Coscarella!

@goplantx $VEGA $PLTXF Prices Offering and Files Amended and Restated Preliminary Short Form Prospectus $VERY.ca $MEAT.ca $EATS.ca $VEGN.ca

Posted by AGORACOM-JC at 8:43 AM on Wednesday, February 17th, 2021
  • Filed an amended and restated short form preliminary short form prospectus in connection with the Offering.
  • The Offering will be at a price of $1.25 per unit of the Company for the issuance of a minimum of 8,000,000 Units to raise minimum total gross proceeds of $10,000,000 . 
  • The Offering, which will be conducted on a “best efforts” agency basis, is being led by Mackie Research Capital Corporation as lead agent and sole bookrunner.

VANCOUVER, BC , Feb. 17, 2021 – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce that it has priced its previously announced offering (the ” Offering “) in its February 16, 2021 news release and has today filed an amended and restated short form preliminary short form prospectus in connection with the Offering. The Offering will be at a price of $1.25 per unit of the Company (a ” Unit “) for the issuance of a minimum of 8,000,000 Units to raise minimum total gross proceeds of $10,000,000 .  The Offering, which will be conducted on a “best efforts” agency basis, is being led by Mackie Research Capital Corporation (the ” Agent “) as lead agent and sole bookrunner.

Each Unit will consist of one (1) common share of the Company (an ” Unit Share “, each such common share in the authorized capital structure of the Company, a ” Common Share “) and one (1) Common Share purchase warrant (a ” Warrant “). Each Warrant will be exercisable at a price of $1.45 and will entitle the holder to purchase one additional Common Share (a ” Warrant Share “) for a period of two (2) years from the closing of the Offering (the ” Closing “), provided that , if, at any time, the daily volume weighted average trading price (or closing price on trading days when there are no trades) of the Common Shares on the Canadian Securities Exchange (the ” CSE “) or, if the Common Shares are not listed on the CSE, then on such other recognized Canadian stock exchange on which the Common Shares are then listed, equals or exceeds $2.50 per Common Share over any ten (10) consecutive trading days, the Company shall be entitled, at its option, within ten (10) business days following such ten-day period, to accelerate the exercise period of the Warrants through the issuance of a press release (the ” Acceleration Notice “) specifying the new expiry date and, in such case, the Warrants will expire on the 30th day following the issuance of the Acceleration Notice. From and after the new expiry date specified in such Acceleration Notice, no Warrants may be issued or exercised, and all unexercised Warrants shall be void and of no effect following the new expiry date.

The net proceeds raised under the Offering will be used to fund expansion, to continue to develop a user app, to evaluate and pursue potential strategic acquisitions, and for working capital and general corporate purposes.

The closing of the Offering is currently expected to be on or about March 11, 2021 or such other date as agreed upon between the Company and the Agent, and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals including the approval of the CSE.

The Units are to be sold on a “best efforts” basis through the Agent in the provinces of British Columbia , Alberta and Ontario , and such other jurisdictions as the Agent and the Company may agree other than Quebec , and in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the ” U.S. Securities Act “) and all applicable U.S. state securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States or to, or for the account or benefit of, U.S. persons. The securities described herein have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.

Read More: https://agoracom.com/ir/PlantX/forums/discussion/topics/755495-plantx-prices-offering-and-files-amended-and-restated-preliminary-short-form-prospectus/messages/2304002#message

POET Technologies $PTK.ca $POETF Reports on Financing Activities Ahead of Friday’s Special Meeting

Posted by AGORACOM-JC at 8:34 AM on Wednesday, February 17th, 2021

Clarifies Position on Implementation of Potential Share Consolidation

  • Added approximately C$24 million (US$18.8 million) to the Company’s cash balance as a result of the successful closing of a brokered private placement, warrants and stock options exercised since October 1, 2020.

TORONTO, Feb. 17, 2021 — POET Technologies Inc. (” POET ” or the ” Company “) (TSX Venture: PTK; OTCQX: POETF), the designer and developer of the POET Optical Interposer™ and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, has added approximately C$24 million (US$18.8 million) to the Company’s cash balance as a result of the successful closing of a brokered private placement, warrants and stock options exercised since October 1, 2020.

Exercise of Options and Warrants
The Company revealed that it had received approximately C$10 million from the exercise of options and warrants since October 1, 2020. Approximately C$2.7 million (US$2.1 million) came from the exercise of approximately 7 million options by former employees and directors at prices ranging from C$0.28 to $0.52. Approximately C$7.3 million (US$5.7 million) in proceeds came from the exercise of warrants from its public offering in November 2016 in which 34.8 million units, consisting of one common share and one common share purchase warrant with an exercise price of C$0.52 per share were placed. The majority of those warrants remained unexercised until recently. From November 2, 2016 through September 30, 2020 only 2.8 million had been exercised. Since the beginning of Q4 2020, warrant holders have exercised approximately 14 million of the 32 million warrants outstanding, with approximately 18 million still unexercised. The Company believes that the outstanding warrants are held mainly by Canadian investors. If fully exercised, the remaining warrants would result in proceeds of approximately C$9.4 million (US$7.3 million) being realized by the Company. If unexercised, the warrants will expire on November 2, 2021.

Warrants Associated with Convertible Debentures
The Company also issued warrants in connection with its private placement of 2-year Convertible Debentures (the “Debentures”) in the period April through September 2019. Holders of the Debentures have the option of redeeming for cash or converting into units consisting of one common share and one common share purchase warrant. The common share purchase warrant forming a part of such unit has an exercise price of C$0.50 per share. Approximately C$5 million (US$3.75 million) worth of the Debentures were issued representing approximately 12.5 million warrants that would be issuable upon conversion into units. Since being issued, the Company’s debt has been reduced by C$750,000 resulting in the issuance of 1.875 million shares and an equal number of warrants. Assuming all of the remaining Debentures are converted and the associated warrants exercised, the remainder of the Company’s debt would be extinguished, and it would issue an additional 10.6 million units. Upon exercise of the associated warrants, the Company would receive an additional C$5.3 million (US$4.1 million).   Depending on the purchase date, holders of the Debentures have between approximately 2 and 7 months remaining from the date of this press release to convert or redeem the Convertible Debentures.

Special Meeting
The Company clarified its intention for the Special Meeting to be held on Friday, February 19, 2021, which is being held for the sole purpose of seeking authorization from the Company’s shareholders to amend the articles of the Company to enable the Board of Directors to consolidate the total outstanding shares within a certain range. The proposed range, to be effected if, as and when the Board of Directors determines within its sole discretion to do so, is on the basis of one post-Consolidation Common Share for a number of pre-Consolidation Common Shares of between two and 14. Thomas Mika, Executive Vice President and Chief Financial Officer, made the following statement: “The purpose of seeking authorization from the shareholders for a consolidation is both to enable an additional listing on the NASDAQ Capital Market and to offer a combination of share price and total shares outstanding that meets or exceeds the minimum requirements of some of the larger institutional investors in the United States and Canada. The Board of Directors intends to consolidate shares only in connection with the additional listing and to do so only when the timing is appropriate, both internally and when market conditions allow. We cannot predict when conditions may be appropriate so we cannot say for certain when a consolidation may be implemented. Until then, we intend to continue to be listed on the TSX Venture Exchange (the “TSXV”) in Canada and on the OTCQX in the United States. So far, we are pleased to say that we have received overwhelming support for the resolution that will be voted on Friday.”

The authority of the Board to consolidate the shares in its sole discretion is conditional upon the prior approval of the Company’s shareholders and the TSXV. If approved by the Company’s shareholders and the TSXV, the consolidation would take place upon a decision by the Company’s Board of Directors within the proposed range agreed to by the shareholders following approval.

The Company will hold its Special Meeting virtually at 1:00pm EST on February 19, 2021 via the LUMI Meeting platform. A Management Information Circular in respect of the meeting has been mailed to shareholders and is available under the profile of the Company on SEDAR. Only registered shareholders, or shareholders with control numbers will be able to attend. No presentation by company management will be conducted and questions will be limited solely to the formal business of the meeting.

The Company also reported that its Total Shares Outstanding increased in recent weeks to 332,338,897 as a result of the successful closing of a brokered private placement, warrants and stock options exercised since October 1, 2020 which added approximately C$24 million (US$18.8 million) to the Company’s cash balance.

Read More: https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/755490-poet-technologies-reports-on-financing-activities-ahead-of-friday-s-special-meeting/messages/2303995#message

Valeo Pharma’s $VPH $VPHIF Hesperco Capsules at the Core of Montreal Heart Institute’s Hesperidin Coronavirus Clinical Trial $HLS.ca $MDP.ca $GUD.ca $RX.ca

Posted by AGORACOM-JC at 8:21 AM on Wednesday, February 17th, 2021
Valeo Pharma (@valeo_pharma) | Twitter
  • Montreal Heart Institute study to evaluate the ability of hesperidin, the medicinal ingredient in Hesperco™ capsules, to reduce the severity of symptoms and the need for hospitalization in COVID-19 patients
  • Hesperidin interferes / inhibits 2 key proteins of SARS-CoV-2 necessary for entry and infection of cells, suggesting that hesperidin may disrupt the replication rate of the virus and enable infected patients to build natural immunity
  • Hesperidin’s safety profile and immune-modulatory activity make it a highly promising molecule to intervene at various stages of the COVID-19 infection process
  • Hesperco TM capsules contain 500mg of high purity concentrated hesperidin

MONTREAL , Feb. 17, 2021 – Valeo Pharma Inc . ( CSE:VPH) (OTCQB:VPHIF) (FSE:VP2 ) (” Valeo ” or the ” Company “), a Canadian pharmaceutical company and its Hesperco™ development partner, Ingenew Pharma Inc. (“Ingenew”), are pleased to announce that Hesperco TM capsules, approved by Health Canada for immune support, will be at the core of the Montreal Heart Institute’s (“MHI”) clinical trial, “The Hesperidin Coronavirus Study”.

The MHI’s study will evaluate the effect of hesperidin on COVID-19 symptoms and its ability to reduce disease severity and the need for hospitalization in patients with COVID-19. The randomized, double-blind, placebo controlled study will enroll 216 confirmed COVID-19 symptomatic patients.

“The immune support properties of hesperidin, the medicinal ingredient contained in HESPERCO™ capsules, and its efficacy against other coronavirus strains are well documented in scientific literature. We are extremely proud to contribute in the fight against the COVID-19 virus with the prestigious MHI and our development partner Ingenew”, said Steve Saviuk , Valeo’s CEO. “Our involvement in this study aligns well with our vision to build a Canadian anchor pharmaceutical company and continued commitment to provide Canadian healthcare professionals and patients with innovative solutions to improve quality of life”.

Commenting on the  Montreal Heart Institute’s Hesperidin Coronovirus Study, Pierre Laurin , President and CEO of Ingenew, said: “We are pleased that MHI’s scientists  concur with our scientific findings.”

Read More: https://agoracom.com/ir/ValeoPharma/forums/discussion/topics/755488-valeo-pharma-s-hesperco-capsules-at-the-core-of-montreal-heart-institute-s-hesperidin-coronavirus-clinical-trial/messages/2303992#message

TransCanna $TCAN.ca Final Stage of Phase One Completion at Daly Facility $VFF.ca $ACB.ca $GTII.ca $TEQ.ca

Posted by AGORACOM-JC at 8:12 AM on Wednesday, February 17th, 2021
tcan-square
  • Phase One expected to generate up to CAD$ 28,000,000 to $32,000,000 additional annual Revenues
  • Company anticipates the remaining construction to take 60 days from the date of execution of the Definitive Agreements with Wild Horse Properties L.P., which will provide the company access to a $2,000,000 convertible construction loan.

Vancouver, British Columbia — (February 17, 2021) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company“) is extremely excited to announce the Company has entered into the final stage of the Phase One build-out of its Daly Facility located in Modesto, CA. With the facility construction approximately 80% complete, the Company anticipates the remaining construction to take 60 days from the date of execution of the Definitive Agreements with Wild Horse Properties L.P., which will provide the company access to a $2,000,000 convertible construction loan.

“The entire team is thrilled to complete the remainder of the Phase One Daly Facility build-out. The opportunity ahead of us to scale our genetic offerings, cultivation, state-wide distribution and processing divisions is very exciting. Each of these functions have synergistic impacts on the efficiencies of the business. Top-tier manufacturing for concentrates will soon follow, significantly leveraging up the entire portfolio,” stated Alan Applonie, General Manager of the Daly Facility.

Once construction is complete, on or around April 15, 2021, the company will boast the following cultivation, distribution, and processing capabilities at its flagship Daly Facility:

Cultivation

  • Five (5) 4,500 sq. ft. grow rooms
  • Each new cultivation room is expected to add an additional $12-$14M CAD
  • The incremental gain of 500 lights represents a 330% increase over current capacity
  • Each room will be outfitted with a minimum of 100 lights.
  • The first completed cultivation room planned to have plants under lights by March 15, 2021

Distribution

  • Robust distribution infrastructure with secured loading and unloading of vans
  • Climate controlled storage facilities that can accommodate 100 acres of harvested product, cured bulk product, and more than 100 pallet positions for finished goods
  • Aggregation of the company’s crop management products
  • Finished goods from multiple brands and partners for efficient logistics between the Northern and Southern California markets
  • Revenue is expected to commence in March and to achieve an annualized run rate of $8-10M CAD

Processing

  • Curing, grading, and packaging of cannabis flower from compliant 3rd party farms
  • Provides the operational basis to execute a comprehensive white-label/co-packaging and brand creation center to fill lower price point market segments
  • Revenue is expected to begin in March and to achieve an annualized run rate of $8-10M CAD
  • State Processing License expected by March 15th, 2021

Read More: https://agoracom.com/ir/TranscannaHoldings/forums/discussion/topics/755487-final-stage-of-phase-one-completion-at-daly-facility/messages/2303991#message

VIDEO – DraganFly $DFLY.ca $DFLYF and Windfall Geotek Landmines Solution Is a $700M Annual Market Whose Biggest Payoff Is Lives Saved $FLT.ca $UAVS $ALPP

Posted by AGORACOM-JC at 11:23 PM on Tuesday, February 16th, 2021

DraganFly ($DFLY) and Windfall Geotek ($WIN) have combined world-class drone technology with artificial intelligence to create an “incomparable solution” solving the global landmine epidemic.

With 60 – 110 million landmines needed to be found, the market is estimated to be worth $700M per year … But that pales in comparison to the value of lives that will be saved and economic prosperity created from ridding regions plagued by landmines.

PlantX $VEGA $PLTXF Announces Public Offering of Units $VERY.ca $MEAT.ca $EATS.ca $VEGN.ca

Posted by AGORACOM-JC at 5:59 PM on Tuesday, February 16th, 2021
  • Filed a preliminary short form prospectus in connection with a marketed public offering
  • The size of the Offering, the pricing of each Unit, the exercise price of each Warrant and of the Compensation Options (as defined below), and the terms of the Acceleration Provision will be determined in the context of the market prior to the filing of an amended and restated short form prospectus in respect of the Offering.

VANCOUVER, BC , Feb. 16, 2021  – PlantX Life Inc. (the ” Company ” or ” PlantX “) (CSE: VEGA ) (Frankfurt: WNT1) (OTCQB: PLTXF) is pleased to announce it has filed a preliminary short form prospectus in connection with a marketed public offering (the ” Offering “) of units of the Company (the ” Units “).

Each Unit will consist of one (1) common share of the Company (” Common Share “) and one (1) Common Share purchase warrant (a ” Warrant “). Each Warrant will entitle the holder to purchase one additional Common Share for a period of two (2) years from the closing of the Offering (the ” Closing “), provided that, if, at any time, the daily volume weighted average trading price (or closing price on trading days when there are no trades) of the Common Shares on the Canadian Securities Exchange (the ” CSE “) or, if the Common Shares are not listed on the CSE, then on such other recognized Canadian stock exchange on which the Common Shares are then listed, equals or exceeds a specified price per Common Share over any 10 consecutive trading days, the Company shall be entitled, at its option, within 10 business days following such 10-day period, to accelerate the exercise period of the Warrants through the issuance of a press release (the ” Acceleration Notice “) specifying the new expiry date and, in such case, the Warrants will expire on the 30th day following the issuance of the Acceleration Notice. From and after the new expiry date specified in such Acceleration Notice, no Warrants may be issued or exercised, and all unexercised Warrants shall be void and of no effect following the new expiry date (the ” Acceleration Provision “).

The size of the Offering, the pricing of each Unit, the exercise price of each Warrant and of the Compensation Options (as defined below), and the terms of the Acceleration Provision will be determined in the context of the market prior to the filing of an amended and restated short form prospectus in respect of the Offering.

Mackie Research Capital Corporation (the ” Agent “) will be acting as the lead agent and sole bookrunner for the Offering. At the Closing, the Company will pay to the Agent a cash commission of 6% of the aggregate gross proceeds arising from the Offering other than in connection with a president’s list of investors (the ” President’s List Investors “), in which case the cash commission shall be 4% of the proceeds raised from President’s List Investors. In addition, and subject to regulatory approval, the Agent will receive compensation options (the ” Compensation Options “) exercisable at any time up to 24 months following Closing to purchase Common Shares in an amount equal to 6% of the number of Units sold in connection with the Offering (other than in connection with President’s List Investors, in which case the number of Compensation Options shall be 4% of the number of Units sold to President’s List Investors).

The Company intends to use the net proceeds from the Offering to fund expansion, to continue to develop a user app, to evaluate and pursue potential strategic acquisitions, and for working capital and general corporate purposes.

The Closing is currently expected to be on or about March 11, 2021 or such other date as agreed upon between the Company and the Agent, and is subject to certain conditions including, but not limited to, the execution of an agency agreement and the receipt of all necessary regulatory approvals including the approval of the CSE.

The Units are to be sold on a “best efforts” basis through the Agent in the provinces of British Columbia , Alberta and Ontario , and such other jurisdictions as the Agent and the Company may agree other than Quebec , and in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the ” U.S. Securities Act “) and all applicable U.S. state securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States or to, or for the account or benefit of, U.S. persons. The securities described herein have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.

Read More: https://agoracom.com/ir/PlantX/forums/discussion/topics/755452-plantx-announces-public-offering-of-units/messages/2303909#message