REPEAT - Roadman Investments Upsizes Private Placement & Corporate Update
August 22 2019 - 7:00AM
Roadman Investments Corp. (TSXV: LITT) (OTC: RMANF) (FWB: 1QD)
(“
Roadman Investments” or the
“
Company”) is pleased to announce that as a result
of positive institutional and retail demand for its previously
announced financing (please refer to the Company’s August 7, 2019
and August 15, 2019 press release), the Company plans to
upsize its non-brokered private placement up to 18,181,819 units
(the “Units”) at a price of CDN$0.055 per Unit to raise gross
proceeds of up to CDN$1,000,000 (the “Offering”).
Each Unit will consist of one common share in
the capital of the Company (a “Share”) and one-half of one common
share purchase warrant (each whole warrant, being a
“Warrant”). Each full Warrant shall be exercisable to acquire
one additional Share at a price of $0.10 for a period of two years
from the date of issuance.
The Company plans to allocate the proceeds of
the Offering for general corporate and working capital purposes.
The second tranche of the Offering is scheduled to close on or
about September 20, 2019 (the “Closing Date”) and is subject to
certain conditions customary for transactions of this nature,
including, but not limited to, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange.
All securities issued under the Offering will be
subject to a statutory hold period in Canada of four months and one
day following the Closing Date. The Company may pay finder’s
fees in connection with the Offering.
Corporate Update
The Company is also pleased to announce that the
Company’s investee Champignon Brands Inc. (“Champignon”) has
completed its Series A financing and intends to pursue an Initial
Public Offering on the Canadian Securities Exchange in Q4 of
2019.
Roadman Investments also announces it has
entered into non-disclosure agreements with a variety of health and
wellness and alternative medicine focused private companies, of
which may result in forthcoming advisory agreements and/or the
strategic deployment of capital.
Champignon’s flagship e-commerce store includes
a selection of craft mushroom-infused teas and ancillary
accessories, earmarked for worldwide distribution. Champignon
invites all current and prospective shareholders to visit its
e-commerce store and review its Vitality Superteas branded product
offering by following the below stated URL:
•
https://vitalitysuperteas.com
About Roadman Investments
Roadman Investments is a Canadian Venture Capital and Advisory Firm
that strives to actively drive innovation and accelerate growth
within its portfolio holdings in order to realize alpha returns for
its shareholders. Roadman invests capital into companies that offer
breakthrough products, devices, treatments and health
supplements.
For further information, please contact:
Media Contact:Nikolai Vassev
nik@roadmaninvestments.com+1 778-772-1751
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.
Caution Regarding Forward-Looking Statements –
This news release contains certain forward-looking statements,
including statements regarding the business of the Company. These
statements are subject to a number of risks and uncertainties.
Actual results may differ materially from results contemplated by
the forward-looking statements. When relying on forward-looking
statements to make decisions, investors and others should carefully
consider the foregoing factors and other uncertainties and should
not place undue reliance on such forward-looking statements. The
Company does not undertake to update any forward looking
statements, oral or written, made by itself or on its behalf except
as required by law.
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