CannaOne Secures Formal Commitments of $500K Financing to Achieve Near-Term Objectives
VANCOUVER, April 25, 2019 /CNW/ - CannaOne Technologies (CNNA: CSE/FSE: 3CT) ("CannaOne" or the "Company") is pleased to announce that it has officially secured all formal commitments needed to fund a non-brokered private placement of CDN$500,000 with a price per Unit of CDN$0.56 issuing a total of 892,857 units on April 23, 2019, subject to the investment terms as previously announced on April 11, 2019.
Solomon Riby-Williams, CEO, stated
We're pleased to announce that we have secured formal commitments of $500,000. We have strategically committed to raising this amount with the understanding that we have some major business objectives to achieve in the near future. We're also delighted about the strategic investors that are participating in this private placement
Upon the final closing, CannaOne intends to then immediately utilize the net proceeds from the Offering to undertake the near-term deployment and launch of our proprietary software in support and operation of our online marketplace partnerships in the United States and Mexico, while we continue to dedicate and engage further efforts towards additional network expansion, corporate branding and marketing and general business development initiatives
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About CannaOne Technologies
CannaOne has developed Bloomkit, the first product in the Bloom Product Suite; a turnkey enterprise software solution that can be utilized by any B-to-C cannabis company. Inherent functionalities ensure its users the highest levels of on-going customer satisfaction while the adaptability of Bloomkit, gives clients the ability to operate and satisfy regulatory environments of any governing body around the World, truly affording CannaOne the opportunity to serve an overall base of global clientele with a software suite that sits at the forefront of the industry. The Bloom Product Suite™ is representative of complete data driven and design focused software solutions that contain diverse system architectures and provide intelligent, machine learning that will give clients detailed industry business insights and ultimately lead to the creation and management of predictive content and product recommendation engines.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE CannaOne Technologies Inc.