SASKATOON, Saskatchewan (October 16, 2018): CB3 Life Sciences Ltd. (“CB3” or the “Company”) is pleased to announce that its private placement of CAD$25-million has been fully subscribed.
This financing round encompassed accredited investors from Canada, the United States, England and Germany, along with CB3 management and employees.
Proceeds from the private placement will be used to fund corporate growth initiatives including, but not limited to, the completion of CB3’s world-class ethanol extraction facility and for general corporate operating purposes.
About CB3 Life Sciences Ltd.
CB3 Life Sciences Ltd. was founded in 2018 by Brent Zettl, former President and CEO of CanniMed Therapeutics Inc. The Company is committed to the needs of medical cannabis patients, both in Canada and internationally through the development of innovative oil and derivative products more recognizable to physicians and patients.
Forward-Looking Information
This document contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking information”) with respect to CB3, including, but not limited to the completion of cannabis extraction facilities and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements, and involve known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of CB3 to be materially different from any future plans, intentions, activities, results, position, performance or achievements expressed or implied by such forward-looking information.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including among other things assumptions about: favorable operating conditions; obtaining and maintaining all required licenses and permits; the pricing of various cannabis products; the ability to raise sufficient capital to advance the business of CB3; and the level of demand for cannabis products including medical cannabis products. While CB3 considers these assumptions to be reasonable, the assumptions are inherently subject to significant risks and uncertainties, contingencies and other factors that could cause actual performance, achievements, actions, events, results or conditions to be materially different from those projected in the forward-looking information.
Accordingly, readers should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are provided and made as of the date hereof and CB3 does not undertake any obligation to revise or update any forward-looking information or statements other than as required by applicable law.
For additional information:
Dara Willis
[email protected]
Mobile: 416-836-9272