New Leaf Ventures Announces Filing of Final Prospectus

Published: March 11, 2020

New Leaf Ventures Announces Filing of Final Prospectus

New Leaf Ventures Inc. has filed and obtained a receipt for its final long form prospectus dated February 10, 2020 (the “Prospectus”) from the securities regulatory authorities in British Columbia, Alberta and Ontario per their decision document filed on February 11, 2020.

The initial public offering consists of up to 20,000,000 units (the “Units”) at a price of $0.25 per Unit (the “Offering Price”), for aggregate gross proceeds of up to $5,000,000 (the “Offering”). Each Unit will consist of one (1) common share in the Company (a “Common Share”) and one half (1/2) common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at a price of $0.40 for a period of 24 months from the listing of the Common Shares on the Canadian Securities Exchange (the “CSE”), subject to early expiry if the closing price of the Common Shares on the CSE (or any equivalent exchange) is equal to or greater than $0.60 per Common Share for a period of ten (10) consecutive trading days. The Units are being offered on a “best efforts” basis pursuant to an agency agreement between the Corporation and Mackie Research Capital Corporation (the “Agent”) which has been entered into in connection with the Offering.

As noted in its news release of January 13, 2020, in connection with the Offering, New Leaf has received conditional approval from the CSE for listing of the Common Shares subject to the finalization of the CSE’s listing requirements. Once final approval is received, the Common Shares will commence trading under the symbol “NLV”. There can be no guarantee that the CSE will accept the listing of the Common Shares.

The Company anticipates closing of the Offering to occur during the first quarter of 2020, subject to satisfaction of certain closing conditions, including, but not limited to satisfaction of the approval conditions of the CSE for the listing of the Common Shares and the satisfaction of conditions to the completion of the acquisition transaction, among other things.

A copy of the Prospectus is available on SEDAR at www.sedar.com.

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