True Leaf Raises a Total $14 Million (CAD) of Equity Financing

Screen Shot 2018 01 24 at 12.14.31 PM
Screen Shot 2018 01 24 at 12.14.31 PM

True Leaf Raises a Total $14 Million (CAD) of Equity Financing. Company ready to break ground on medicinal cannabis facility.

VERNON, BC – (January 24, 2018) – True Leaf Medicine International Ltd. (“True Leaf” or the “Company”) (CSE: MJ) (FSE: TLA) (OTCQB: TRLFF), the quality of life cannabis company for people and their pets, today announced that it has raised $10 million (CAD) through a Regulation A+ public equity offering, two months after the U.S. Securities and Exchange Commission (SEC) qualified its offering statement.
True Leaf also announced today it is in the process of closing a $4,051,654.60 non-brokered private placement selling 5,788,078 common shares at a price of C$0.70 per share to Canadian investors only. All securities issued pursuant to the Canadian offering are subject to a statutory hold period of four months and one day.
In the Regulation A+ offering, True Leaf offered a total of 14,285,715 common shares at a price of C$0.70 per share, with a minimum subscription amount of C$350 (or 500 shares) per investor. The use of Regulation A+ allowed the Company to offer and sell its common shares to public retail investors as well as traditional accredited and institutional investors.
With the offering fully closed, True Leaf is the first Canadian-listed company to conduct a successful Regulation A+ offering.
“We’ve always wanted to give the people who love our products, and share in our vision and values, the chance to own a piece of True Leaf,” said Darcy Bomford, Founder and Chief Executive Officer of True Leaf. “Regulation A+ gave us this opportunity. We believe the proceeds from this offering should put us in an excellent position to execute our business plan and accelerate our growth.”
Boustead Securities, LLC (“Boustead”), working with its affiliate, FlashFunders™, is the lead underwriter and bookrunner for the offering. CrowdfundX is the digital marketing agency of record.
“I believe True Leaf had some of the ingredients for a successful Regulation A+ equity placement, including offering a product in an emerging market segment of interest to many, and a plan to distribute the securities to different types of investors, some of whom may not have had an opportunity to participate in such offerings before the crowdfunding regulations were enacted,” added Keith Moore, Chief Executive Officer of Boustead.
“We saw what we believe to have been exceptional engagement and click-through rates on the crowdfund campaign, which, in our opinion, was a result of extensive planning and collaboration,” stated Darren Marble, Chief Executive Officer of CrowdfundX.