VANCOUVER, April 15, 2020 /CNW/ - Geyser Brands Inc.
(TSX-V: GYSR) ("Geyser Brands" or the
"Company") is pleased to announce that it has closed a
non-brokered private placement in which the Company raised gross
proceeds of $522,000 (the
"Offering"). In connection with the Offering, the Company
issued 8,030,769 common shares at a price of C$0.065 per common share.
The finder's fee of 481,846 common shares of the company is
payable to each Yan Ming Li and
Xin Wei Chen. Pursuant to applicable
securities laws, all common shares issued in connection with this
offering are subject to a four month hold period expiring
August 15, 2020.
The Company intends to use the proceeds of the Offering for
general working capital purposes to fund the continued development
of the Company's operations and international growth initiatives.
The Offering remains subject to final regulatory approval.
About Geyser Brands
Geyser Brands Inc. develops consumer product brands in the
health and wellness sector that use hemp and CBD as a value-added
ingredient. These involve next-generation formulas that focus on
the mix of cannabinoids for specific conditions such as insomnia,
anxiety and pain. Proprietary delivery technologies include all
natural nano-technology, slow-release mechanisms and non-molecule
degrading baking processes. In anticipation of coming edibles
legislation, and with its Health Canada approved Licensed
Production Facility, Geyser Brands has 15,000 square feet in two
GMP facilities in Vancouver,
BC.
For more information, visit Geyser Brands' website at
www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________________
Andreas Thatcher
Director and CEO
info@geyserbrands.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This news release contains forward‐looking
statements and forward‐looking information within the
meaning of applicable securities laws. These statements relate to
future events or future performance. All statements other than
statements of historical fact may be forward‐looking
statements or information. Forward‐looking statements
and information are often, but not always, identified by the use of
words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for
the purpose of providing information about the current expectations
and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward‐looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to, the risks associated with the marijuana
industry in general such as operational risks in growing;
competition; incorrect assessment of the value and potential
benefits of various transactions; ability to access sufficient
capital from internal and external sources; failure to obtain
required regulatory and other approvals and changes in legislation,
including but not limited to tax laws and government regulations.
Accordingly, readers should not place undue reliance on the
forward‐looking statements, timelines and information
contained in this news release. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional
information relating to Geyser is available
at www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Geyser Brands Inc.
