Regulation A+ offering launches today as company raises funds to build a medicinal cannabis facility and extend its global pet product business
PR Newswire
VERNON, British Columbia, Nov. 30, 2017
VERNON, British Columbia, Nov. 30, 2017 /PRNewswire/ — True Leaf Medicine International Ltd. (“True Leaf” or the “Company“) (CSE: MJ) (FSE: TLA) (OTCQB: TRLFF), announced today that it has received a notice of qualification from the Securities and Exchange Commission (“SEC“) of its Regulation A+ Tier 2 Offering Statement under Title IV of the JOBS Act to raise up to $10 million CAD in an offering that launches today.
True Leaf’s Regulation A+ offering enables underwriters to solicit orders from the general public in addition to traditional accredited investors and institutional investors. The SEC qualified the Offering Statement on November 21, 2017. The Company is offering a maximum of 14,285,715 common shares at a price of $0.70 CAD per share, with a minimum subscription amount of $350 (or 500 shares) per investor.
In addition to traditional marketing methods used in public offerings, this offering is being marketed to online investors via invest.trueleaf.com.
Founded in 2013, True Leaf has applied to become a licensed producer of medicinal marijuana and has received Health Canada’s approval to build a production facility on a 40-acre site in Lumby, British Columbia, Canada. The facility is expected to have a production capacity of more than 2,500 kilograms of dried cannabis per year when phase one of the project is completed and approved by Health Canada.
Launched in 2015, True Leaf Pet, a subsidiary of True Leaf, developed the True Hemp™ brand and became one of the first hemp-based pet product lines to be marketed worldwide. True Hemp™ formulations combine the properties of hemp seed with other active ingredients that support multiple functions in a soft chew, stick, and oil supplement format. The Company has tripled its product line over the past nine months and has seen rapid growth in the United States, Canada, and Europe, with a seven-fold increase in sales for the first quarter of 2017 compared to the same quarter last fiscal year.
“We are excited about gaining SEC qualification for our Regulation A+ offering,” said True Leaf founder and Chief Executive Officer Darcy Bomford. “It has been a remarkable nine-month journey and now we’re able to extend a unique opportunity to own a piece of True Leaf to customers, supporters, and investors who share our values and enthusiasm for the potential of our products.”
For more information on investing in True Leaf, please visit invest.trueleaf.com.
SEC Legends
An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement, which only means that we may make sales of the securities described by the offering statement. It does not mean that the SEC has approved, passed upon the merits, or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement from:Â HERE
Forward-Looking Statements
This news release contains forward-looking statements; and management may make additional forward-looking statements in response to your questions. Such written and oral disclosures are made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Although we believe our expectations expressed in such forward-looking statements are reasonable, we cannot assure you that they will be realized. Investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the anticipated results, and therefore we refer you to a more detailed discussion of the risks and uncertainties in the Company’s filings with the Securities and Exchange Commission when available. The forward-looking statements contained in this news release are made only as of today; and True Leaf Medicine International Ltd. is under no obligation to revise or update these forward-looking statements.
About True Leaf
Founded in 2013, True Leaf has two main operating divisions: True Leaf Medicine Inc. and True Leaf Pet Inc. The Company’s goal is to provide federally-approved, safe and effective cannabis products that will be sold across Canada and the United States. True Leaf Medicine Inc. was launched in July 2013 to become a licensed producer of medicinal cannabis for the Canadian market. As of October 19, 2017, True Leaf Medicine Inc. has been given approval by Health Canada to build its grow facility and will be subject to a Health Canada security inspection upon completion to allow for the cultivation, manufacture, and distribution of cannabis products. Currently, True Leaf does not have a license to produce cannabis.
Established in 2015, True Leaf Pet Inc. markets safe, hemp-focused products for the pet industry. The Company launched the True Hemp™ pet supplement line in Canada, the United States, and Europe, becoming one of the first hemp-based pet product lines to be marketed worldwide. True Hemp™ North
American products are free of CBD and THC, making them the first federally legal products to be marketed in Canada and the United States.
Media Contact:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Paul Sullivan
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Investor Contact:
Kevin Bottomley
Director and Corporate Relations
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