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James E. Wagner Cultivation Announces Closing of $3.5 Million Advance Under Loan Agreement and Issuance of Bonus Warrants
James E. Wagner Cultivation Announces Closing of $3.5 Million Advance Under Loan Agreement and Issuance of Bonus Warrants.
About this update from James E Wagner Cultivation Corp
[{"type":"text","content":"\nKITCHENER, Ontario, March 04, 2019 (GLOBE NEWSWIRE) -- James E. Wagner Cultivation Corporation (“JWC” or the “Corporation”) (TSXV: JWCA), is pleased to announce that on March 1, 2019, the Corporation closed the advance of the loan in the amount of CDN$3.5 million (the “Loan”) pursuant to the previously disclosed loan agreement dated February 19, 2019 (the “Loan Agreement”) between, among others, JWC and Trichome Financial Corp. (the “Lender”).\n As consideration for providing the Loan and pursuant to TSX Venture Exchange (“TSXV”) Policy 5.1 – Loans, Loan Bonuses, Finder’s Fees and Commissions, JWC has issued 291,667 bonus warrants to purchase common shares of JWC (the “Bonus Warrants”) to the Lender. Each Bonus Warrant is exercisable into one common share of JWC at an exercise price of CDN$0.80. The Bonus Warrants are exercisable for a period of two years from the date of issuance, expiring on March 1, 2021. The Bonus Warrants are subject to a four month hold period in accordance with applicable Canadian securities laws which will expire on July 2, 2019.The issuance of the Bonus Warrants was approved by the TSXV on February 27, 2019. Details of the Loan Agreement are set forth in the Corporation’s news release dated February 20, 2019. About James E. Wagner Cultivation Corporation JWC’s wholly-owned subsidiary is a Licensed Producer under the Cannabis Regulations, formerly the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). JWC is a premium cannabis brand, focusing on producing clean, consistent cannabis. JWC uses an advanced and proprietary Dual Droplet aeroponic platform named GrowthSTORM™. JWC was founded as a family company and is based on family values. JWC began as a collective of patients and growers under the Marihuana Medical Access Regulations (the precursor to ACMPR). Since its inception, JWC has remained focused on providing the best possible patient experience. JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca. For additional information about JWC, please refer to JWC’s profile on SEDAR (www.sedar.com) or the Corporation’s website: www.jwc.ca. Notice regarding forward-looking statements: This press release contains statement...