VANCOUVER, British Columbia, Feb. 26, 2019 /CNW/ -- CROP
Infrastructure Corp. (CSE: CROP) ("CROP" or the
"Company") announces that the Company completed its
previously announced non-brokered private placement offering (the
"Offering") of senior secured convertible debenture units.
Pursuant to the transaction, the Company issued senior secured
convertible debentures in the principal amount of $4,000,000 and an aggregate of 13,333,333 share
purchase warrants (each, a "Warrant") with each Warrant
entitling the holder thereof to acquire one common share of the
Company (each, a "Warrant Share") at an exercise
price of $0.50 per Warrant Share for
a period of 3 years from the date of the closing of the
Offering.
The proceeds of the Offering are expected to be used to continue
to grow the Company's United
States operations and for general working capital
purposes.
All securities issued pursuant to the Offering are subject to a
restricted period of four months and one day.
For more information regarding the Offering, please see the
Company's February 7th,
2019 news release.
None of the securities issued in connection with the Offering
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 press 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.
About CROP
CROP is publicly listed on the CSE and trades under the symbol
"CROP" and in the US under the symbol "CRXPF". CROP is focused on
cannabis branding and real estate assets. The Company's portfolio
of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis
farm, 2,115 acres of CBD farms, extraction in Nevada and joint ventures on a San Bernardino dispensary app with
international focuses in Jamaica
and Italy.
CROP has developed a portfolio of assets including Canna Drink,
a cannabis infused functional beverage line, US and Italian
distribution rights to over 55 cannabis topical products and a
portfolio of 16 Cannabis brands. CROP's infrastructure has over
150,000 sq ft of built canopy and over 2,900 acres of real
estate.
The CSE (operated by CNSX Markets Inc.) has neither approved
nor disapproved of the contents of this press release.
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements that
involve various risks and uncertainties regarding future events.
Such forward-looking statements are based on current expectations
of management, involve a number of risks and uncertainties, and are
not guarantees of future performance of the Company. These
statements generally can be identified by the use of
forward-looking words such as "may", "should", "will", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations.
Forward-looking statements in this news release include statements
regarding the proposed allocation of the net proceeds of the
Offering. Forward-looking statements are necessarily based on a
number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties
and other factors that may cause actual results and future events
to differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results
or events to differ materially from current expectations include
general market conditions and other factors beyond the control of
the Company. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by applicable law.
Contact
Michael Yorke
– CEO & Director
info@cropcorp.com
www.cropcorp.com
+1-(604)-484-4206
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SOURCE CROP Infrastructure Corp.