Cannabis Wheaton Income Corp. Accelerates Warrant Expiry Date for Anticipated Proceeds of $57.7 Million
VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) — Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSXV: CBW) (“Wheaton Income” or the “Company”) announced today that the Company has elected to exercise its right under the warrant indenture (the “Indenture”) governing the common share purchase warrants of the Company (the “Warrants”) issued on June 29, 2017. Pursuant to the terms of the Indenture, the Company may accelerate the expiry date of the Warrants when the closing price of the common shares of the Company (the “Common Shares”) on the TSX Venture Exchange (the “Exchange”) exceeds $2.00 for 10 consecutive trading days.
As of the close of markets on January 15, 2018, the closing price of the Common Shares on the Exchange has exceeded $2.00 for a period of 10 consecutive trading days, commencing on January 2, 2018. Effective today, the Warrants are set to expire at 4:00 p.m. (Toronto time) on February 15, 2018. This news release constitutes notice to Warrant holders of the new expiry date. Any Warrants remaining unexercised after the new expiry date will be cancelled.
As of close of market January 15, 2018, a total of 38,467,233 Warrants of the 38,671,752 originally issued had yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $1.50. Consequently, if all the Warrants are exercised, proceeds to the Company will total $57,700,850.
About Wheaton Income (TSX-V:CBW)
Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.
For more information about investing in Cannabis Wheaton, please visit: http://www.wheatonincome.com or contact our investor relations team at: 800.980.1314 or IR@wheatonincome.com. Follow up on Twitter @WheatonIncome.
Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.