Business
North Bud Farms Closes Second Tranche of Private Placement Financing
North Bud Farms Closes Second Tranche of Private Placement Financing.
About this update from North Bud Farms Inc
[{"type":"text","content":"\nTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\n TORONTO, July 03, 2019 (GLOBE NEWSWIRE) -- North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (\"NORTHBUD\" or the \"Company\") is pleased to announce the closing of a second tranche of its non-brokered private placement, previously announced on May 15, 2019, for gross proceeds of $1,122,000, by issuing 3,740,000 units at a price of $0.30 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.40 per share for a period of twenty-four months. The Company plans to use the net proceeds of the offering to hire additional staff for its Canadian operations, pursue M&A opportunities in the United States, including new state license applications, and for general working capital purposes. The Company expects to close on the balance of the previously announced private placement of up to $4 million in one or more additional tranches of the offering in the near future, subject to the receipt of all necessary regulatory approvals. All securities issued pursuant to the offering are subject to a four-month hold period in accordance with applicable Canadian securities laws. About North Bud Farms Inc. North Bud Farms Inc., through its wholly owned subsidiary GrowPros MMP Inc., is pursuing a licence under The Cannabis Act.  North Bud Farms Inc. is constructing a state-of-the-art purpose-built cannabis production facility located on 95 acres of Agricultural Land in Low, Quebec. North Bud Farms Inc. will be focused on Pharmaceutical and Food Grade cannabinoid production in preparation for the legalization of edibles and ingestible products scheduled for October 2019. For more information visit: www.northbud.com Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements Certain statements and information included in this press release that, to the extent they are not historical fact, constitute forward-looking information or statement...