(Press Release) Vancouver, BC, June 13, 2017 – True Leaf Medicine International Ltd. (the “Company”) (CSE: MJ, OTC: TLFMF, FSE: TLA) is pleased to announce that it has closed the second tranche of its recently-announced non-brokered private placement by issuing an aggregate of 4,641,816 units (each, a “Unit”) at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,392,545 (the “Private Placement”). Each Unit consists of one common share of the Company (each, a “Common Share”) and one warrant exercisable into one Common Share at a price of $0.45 for a period of 24 months. One insider of the Company subscribed for 85,000 Units, representing C$25,500 of the gross proceeds.
In connection with the Private Placement, the Company paid an aggregate of $18,617 in cash commissions to three finders, equal to 7% of the gross proceeds received from investors introduced to the Company by those finders.
The Company intends to use the proceeds of the Private Placement as disclosed in its news release dated May 3, 2017, and in particular, to develop the business of its ‘True Leaf Medicine’, ‘True Leaf Pet’ and ‘True Leaf Pet Europe’ subsidiaries.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four month and one day.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States except in compliance with one or more exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.