The Company also announced today that it has settled debt (the “Debt Settlement”) in the amount of $37,500 owed by the Company to one creditor of the Company in exchange for 25,000 common shares in the capital of the Company (each, a “Debt Settlement Share”) at a deemed price of $1.50 per Debt Settlement Share.
All securities issued in connection with the Offering and the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities legislation. No finder’s fees were paid in connection with the Offering.
None of the securities issued in the Offering and the Debt Settlement will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
BevCanna also announced today that it has entered into a marketing and investor relations agreement (the “Agreement”) dated January 5, 2021 with Winning Media LLC (the “Consultant”) pursuant to which the Consultant has agreed to provide certain corporate branding, marketing, online corporate communications and investor relations services to the Company for a term of one month, for total cash consideration of US$150,000, which was paid upon entry into the Agreement.
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) develops and manufactures cannabinoid–infused beverages and consumer products for in–house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna owns the exclusive rights to a pristine spring water aquifer, access to a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum. BevCanna also recently acquired US natural health and wellness e-commerce platform Pure Therapy. BevCanna’s vision is to be a global leader in infused innovations.