SpeakEasy Closes $6.36 Million Private Placement

Published: April 26, 2019

SpeakEasy Cannabis Club Ltd. is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement for deemed aggregate gross proceeds of $6,356,000.95. The Private Placement consisted of the issuance of 9,778,463 units of the Company at a price of $0.65 per Unit.

Each Unit consists of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire an additional Common Share at a price of $1.00 for a period of 24 months from closing.

In connection with the completion of the Private Placement, the Company paid cash finders fees of $9,425 and issued 14,500 non-transferable broker warrants (the “Broker Warrants”). Each Broker Warrant entitles the holder to acquire one Common Share at an exercise price of $0.65 per share for a period of 24 months following closing.