TORONTO, ONTARIO -- (Marketwired) -- 10/07/15 -- GreenSpace Brands Inc. ("GreenSpace") (TSX VENTURE: JTR), a developer and seller of premium natural food products, announces that today it has amended the terms of its previously announced non-brokered equity financing to offer up to $2 million in units at a subscription price of $1.05 per unit, each unit comprised of one common share in the capital of the GreenSpace (a "Common Share") and one quarter of a warrant (each whole warrant, a "Warrant"). Each whole Warrant will be exercisable for one Common Share at an exercise price of $1.20 for a period of 24 months from the date of issuance.
Net proceeds of the equity financing will be used for the acquisition of Love Child (Brands) Inc. and general working capital purposes. Completion of the equity financing is subject to customary conditions including TSX Venture Exchange approval. All securities issued pursuant to the equity financing will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. The equity financing is expected to close in one or more tranches over the next few weeks. Finders fees of up to 8% may be payable on certain of the subscriptions received.
Further details on Love Child (Brands) Inc. can be found in GreenSpace's press release dated September 15, 2015 available at www.SEDAR.com.
About GreenSpace Brands
GreenSpace is a Canadian-based brand ideation team that develops, markets and sells premium natural food products to consumers across Canada. GreenSpace owns Rolling Meadow Dairy, Canada's first grass fed dairy product line that has built upon the founding values of Greenspace's original brand, Life Choices. Life Choices features premium convenience meat products made with grass fed and pasture raised meats without the use of added hormones and antibiotics. GreenSpace also owns Holistic Choice, a premium natural pet food line and Nudge, a line of family favorite foods made better. All brands are wholly owned and retail in a variety of natural and mass retail grocery locations across Canada. For more information, visit www.greenspacebrands.ca. GreenSpace's filings are available at www.SEDAR.com.
Forward-Looking Information
Certain statements in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements concerning the completion of the transactions described herein and results of the completion of the transaction. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that: (1) the transactions may not be completed for any reason whatsoever, including that regulators may not approve the transactions; (2) the closing may not occur as scheduled or at all; and (3) GreenSpace may not achieve the results currently anticipated. Although GreenSpace believes that the expectations reflected in its forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because GreenSpace can give no assurance that such expectations will prove to be correct. Details of the risk factors relating to GreenSpace and its business are discussed under the heading "Risks and Uncertainties" in GreenSpace's annual management discussion and analysis dated August 31, 2015, a copy of which is available on GreenSpace's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by GreenSpace and described in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof and GreenSpace undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward looking information contained in this press release is expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Terre Partners
Joanna Longo
(416) 238-1414 ext 233
jlongo@terrepartners.com
GreenSpace Brands Inc.
Mathew Walsh
Chief Financial Officer
(416) 934-5034 x 222
mat.walsh@greenspacebrands.com
www.greenspacebrands.ca
