Toronto, Ontario – (Newsfile Corp. – December 17, 2021) – Bhang Inc. (CSE: BHNG) (OTCQB: BHNGF) (“Bhang“or the”Society“), a global cannabis-branded CPG company with an award-winning product portfolio, today announced that it has closed a non-middleman private placement (the”Offer“) of 22,147,400 units (the”Units“) of the Company for total gross proceeds of CA $ 1,218,107. Each unit is composed of one (1) subordinate voting share of the Company (each a”SVS“) and one-half (1/2) of an SVS warrant (each whole warrant, a”To guarantee“). Each warrant entitles its holder to purchase one (1) SVS of the Company at an exercise price of CA $ 0.10 for a period of 18 months following the closing of the offering. The units issued in for the placement are subject to a four-month, one-day holding period expiring on April 18, 2022, and any other restrictions that may apply under foreign securities laws. The proceeds of the placement will be used at general purposes of working capital.
In connection with the Offer, the Company paid, to a discoverer (the “Searcher“), a cash commission of approximately C $ 25,014 out of the gross proceeds of the Offering raised from subscribers presented to the Company by this Finder. The Company also issued a total of 454,800 warrants (the”Research mandates“) to the Introducer with each Offeror Warrant allowing its holder to acquire one (1) SVS at an exercise price of CA $ 0.10 for a period of 18 months following the closing of the Placement.
Bhang (CSE: BHNG) (OTCQB: BHNGF) is committed to making it ridiculously fun which is nice enough. For more than a decade, Bhang has provided consumers with exceptional sensory experiences through its extensive portfolio of more than 50 cannabis, CBD and terpene products created by master chefs, including gourmet chocolates, pre- rolls, CBD isolates and hemp sticks ™. Bhang’s award-winning chocolates are among the best-selling edibles in 7 US states and Canada. Bhang’s CBD products are distributed all over the world and are known to be safe, effective, and delicious. Learn more at www.bhangnation.com and buy our high quality CBD products at www.bhangcbd.com.
This press release contains statements which constitute “–“Information seeking” within the meaning of applicable securities laws, including statements regarding the Company’s plans, intentions, beliefs and current expectations with respect to future business activities.–information seeking is often identified by the words “could”, “would”, “could”, “should”, “should”, “intend”, “plan”, “anticipate”, “believe”, “Estimate”, “expect” or similar expressions and include information regarding: (i) statements regarding the future direction of the Company; (ii) the Company’s ability to successfully achieve its business objectives and financial; (iii) the Company’s expansion plans into new jurisdictions; and (iv) expectations regarding other economic, business and / or competitive factors. Investors are cautioned that the future–forward-looking information is not based on historical facts but rather reflects the expectations, estimates or projections of the management of the company regarding the activities of the future results or events of the company based on the opinions, assumptions and estimates of the management considered as reasonable on the date the statements are made. Although the Company believes that the expectations reflected in these–are reasonable, such information involves risks and uncertainties, and one should not place undue reliance on such information, as unknown or unforeseeable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in–the information sought is as follows: changes in economic, commercial and general political conditions, including changes in financial markets; in particular, in the Company’s ability to raise debts and equity for the amounts and at the costs it expects; adverse changes in public perception of cannabis; the price decreases in effect for cannabis and hemp-based products in the markets in which the Company operates; adverse changes in applicable laws or adverse changes in the application or enforcement of applicable laws; the cannabis market is highly regulated and these regulations and enforcement priorities of government authorities may change; compliance with extensive government regulations and associated costs; and other risks described in the Company’s registration statement dated July 9, 2019, and other documents filed on www.sedar.com. If one or more of these risks or uncertainties materialize, or if the underlying assumptions–apparent information turns out to be inaccurate, actual results may differ materially from those described in this document as being intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify risks, uncertainties and important factors that could cause actual results to differ materially, there may be others that could cause results not to be as anticipated. , estimated or planned. The Company does not intend, and assumes no obligation, to update this press release.–seek information, unless required by applicable law otherwise.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or the securities laws of any state. United States and may not be offered or sold in the United States or to any “US Person” (as defined in Regulation S under the US Securities Act) unless it is registered under the US Securities Act and applicable state securities laws or under an exemption from such registration requirements.
Neither CSE nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this release.
J. Graham Simmonds
Executive Chairman of the Board of Directors
NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES.
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