Sugarbud Announces Extension of Warrant Term
November 18 2021 - 2:23PM
Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT, SUGR.WS,
SUGR.DB) ("
Sugarbud" or the
"
Company") announces that the Company has
submitted an application to the TSX Venture Exchange
("
TSXV") to approve the extension of the expiry
date of 18,500,000 outstanding common share purchase warrants of
the Company issued on November 18, 2019 (the “
2019 Private
Placement Warrants”), and 16,272,075 outstanding common
share purchase warrants of the Company issued on December 20, 2019
(the “
2019 Rights Offering Warrants”, and
collectively with the 2019 Private Placement Warrants, the
“
Warrants”). The 2019 Private Placement Warrants
and the 2019 Rights Offering Warrants were set to expire on
November 18, 2021 and December 20, 2021, respectively. Under the
updated terms of the warrant agreement, each Warrant would entitle
the holder thereof to subscribe for one common share at an exercise
price of $0.10 any time prior to September 14, 2023. Aside from the
extension of the expiry date, all other terms of the Warrants will
remain unchanged.
The Company believes that the extension of the
expiry date of the Warrants is reasonable and necessary in the
context of the market, as it increases the likelihood that the
Company will be financed through the exercise of the Warrants. The
decision to extend the expiry date of the Warrants was unanimously
approved by the board of directors of the Company.
The warrant term extension remains subject to
approval from the TSXV.
About Sugarbud
Sugarbud is a federally licensed Alberta based
craft cannabis company, focused on the cultivation and production
of genetically diverse, high quality, select-batch, ultra-premium
cannabis products.
http://www.sugarbud.ca/
John Kondrosky Chief Executive
Officer Sugarbud Craft Growers Corp. Phone: (604)
499-7847 E-mail:
johnk@sugarbud.ca
Investor Relations Contact
Chris Moulson, CFO Tel: (778)
388-8700E-mail: chrism@sugarbud.ca
Website:
http://www.sugarbud.ca/
Address: Suite 620, 634 - 6th Avenue S.W.,
Calgary, Alberta T2P 0S4
Cautionary Statement Regarding Forward-Looking
Information
Certain statements contained in this press release may
constitute forward-looking information. These statements relate to
future events or future performance. The use of any of the words
“could”, “intend”, “expect”, “believe”, “will”, “projected”,
“estimated”, “proposed” and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the Company’s
current beliefs or assumptions as to the outcome and timing of such
future events. Such forward-looking information is subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. Various assumptions or factors are typically applied in
drawing conclusions or making the forecast or projections set out
in forward-looking information. Those assumptions and factors are
based on information currently available to the Company. The
forward-looking information contained in this press release is made
as of the date hereof and the Company is not obligated to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
Neither the TSXV nor its regulation services provider
(as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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