Cannabis Wheaton Provides Update on Private Placement and Related Matters
VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 5, 2017) –
Cannabis Wheaton Income Corp. (TSXV: CBW) (OTC: KWFLF) (“Cannabis Wheaton” or the “Company”) wishes to announce the termination of its previous engagement letter (the “Engagement Letter”) with Eight Capital and Canaccord Genuity Corp. (the “Co-Lead Agents”), in connection with its previously announced best efforts private placement of “Special Warrants” and “Convertible Debenture Units”. The Company and the Co-Lead Agents have mutually agreed to terminate the Engagement Letter.
Over the preceding week the Company has been the subject of multiple inflammatory false or misleading reports, published primarily online by persons seeking to discredit the Company. Cannabis Wheaton as well the Co-Lead Agents have been referenced and targeted about various matters, including the ownership of securities in Cannabis Wheaton by employees of the Co-Lead Agents, despite such ownership being disclosed in the Company’s press release dated May 23, 2017.
Since the previously announced private placement, only positive events have occurred within the Company’s business including the signing of the agreement with Abcann Global Corporation. The Co-Lead Agents confirmed that the termination of the Engagement Letter was not in any way related to due diligence conducted by the Co-Lead Agents or investors’ reception of the Company’s private placement.
Chuck Rifici, Chairman and CEO
While we are disappointed at the timing of the termination of the Engagement Letter with the Co-Lead Agents, we are pleased at the enthusiastic response from the syndicate members and other leading firms seeking to take up the agency role in the private placement. We are acting swiftly to finalize an agreement with a new broad syndicate of agents to facilitate an expeditious closing of the proposed private placement.
Finally, further to the Company’s press release dated May 31, 2017, we wish to confirm in the strongest possible terms that no law enforcement or other regulatory agencies have contacted the Company and that any allegations to the contrary being published online are entirely without merit.
ON BEHALF OF THE BOARD
Chuck Rifici, Chairman & CEO
About Cannabis Wheaton Income Corp. (TSX VENTURE:CBW)
Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton’s mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.
For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton. Call: 1-604 687 7130 Email: Mario@skanderbegcapital.com http://www.skanderbegcapital.com.
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