CannTx Completes Private Placement Financing
PUSLINCH, Ontario, October 15, 2018 - CannTx Life Sciences Inc. (the “Company” or “CannTx”), a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR), is pleased to announce that it has completed a private placement financing of approximately $3 million.
This is another key milestone for the CannTx team as the company prepares for a go public transaction in early 2019.
“We are thrilled with the ongoing support from our existing shareholders and we welcome our new investors,” said Mike Abbott, President and CEO of CannTx. “We expect to see continued growth as we move forward in executing our very unique business plan. With legalization of the adult-use market around the corner, this is a very exciting time, not only for CannTx, but for the industry as a whole in Canada.”
For further information, please contact:
Jennifer Charlebois, Communications Manager
About CannTx Life Sciences Inc.
Founded in 2013, CannTx is a privately-owned ACMPR-licensed Cannabis company, located in the heart of Canadian agricultural innovation. CannTx is equipped to become the only commercial scale producer of micropropagated inputs, both for sale to licensed producers, as well as for use in its own state-of-the-art facility. The CannTx solution involves harnessing biotechnology (specifically micropropagation and vertical farming) for Cannabis cultivation, which results in improved consistency of product, enhanced safety, greater selection, better availability and the agility to respond to changing consumer preferences.
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this news release include, without limitation, statements regarding: the Company’s facility, expected capacity, production, business and operations. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.