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Asterion Announces $10 Million Private Placement

Asterion Announces $10 Million Private Placement


January 2, 2020, Vancouver, British Columbia:  Asterion Cannabis Inc. (“Asterion” or the “Company”) announces a non-brokered private placement of up to 6,666,667 units (each, a “Unit”) at the price of CAD $1.50 per Unit, for aggregate gross proceeds of up to CAD $10,000,000 (the “Financing”). Each Unit will consist of one common share in the capital of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each whole Warrant entitling the holder thereof to purchase one additional Share at an exercise price of CAD $2.00 for a period of 24 months from the closing of the Financing, subject to acceleration. Finder’s fees may be payable on a portion of the Financing.  All securities issued under the Financing will be subject to a hold period of four months and one day in Canada.

Proceeds from the Financing are intended to be used to construct approximately 40 hectares (99 acres) of cutting-edge, secure, purpose-built greenhouses near Toowoomba in South East Queensland, Australia (the “Toowoomba Facility”) for the production of high-quality organic medicinal cannabis, and for general working capital purposes. For more information on the Toowoomba Facility, see Asterion’s corporate website.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States, or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any United States state securities laws, and may not be offered or sold in the United States or to the account or benefit of a “U.S. person” (as defined in Regulation S under the 1933 Act) or a person in the United States absent registration or an applicable exemption from the registration requirements.

About Asterion

Asterion is a Canadian medicinal cannabis company with operations in Australia, specializing in innovation in the development and supply of medical cannabis and is focused on becoming an industry leader in next generation cannabis products Asterion is focused on the future of advanced agriculture and aims to produce the highest quality of genetically uniform cannabis strains, at an affordable price.

Asterion is led by a team of highly experienced executives with over 120 years of combined experience in medical cannabis, renewable energy, capital markets, and other highly relevant sectors across North America, Oceania, Europe, Africa and Asia.

On Behalf of the Board of Directors 

“Stephen Van Deventer” 
Chairman & Chief Executive Officer

For further information, please contact: 

Deanna Kress
+1-778-999-6063
info@asterioncannabis.com

Source: Asterion

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