CANADABIS ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING FOR $2.6 MILLION
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./
CALGARY, AB , /CNW/ - CanadaBis Capital Inc. (" CanadaBis") (TSXV: CANB) is pleased to announce that it has closed the first tranche of the previously announced brokered private placement of 11% unsecured convertible debentures (the " Debentures") at a price of $1,000 per Debenture (the " Financing"). Closing of the first tranche consisted of the issuance of 2,620 Debentures for aggregate gross proceeds of $2,620,000 .
Research Capital Corporation is acting as the sole agent and sole bookrunner in connection with the Financing (the " Agent").
The Debentures bear interest at a rate of 11.0% per annum from the date of issue, payable quarterly in arrears. Interest shall be paid in cash or common shares of the Company (" Common Shares") at the Company's sole discretion, subject to Exchange approval. The Debentures will mature on April 2, 2029 (" Maturity Date").
The principal amount of each Debenture shall be convertible, at the option of the holder, for no additional consideration, into Common Shares, following August 3, 2025 , and prior to the Maturity Date at a Conversion Price equal to $0.10 per Common Share (the " Conversion Price"), subject to customary adjustments. The Debentures will be repaid in cash at the Maturity Date.
On and following the date that is five (5) months from the date of issuance of the Debentures, CanadaBis shall have the right to either partially or fully redeem the outstanding Debentures in cash at 105% of the outstanding principal amount of the Debenture at the time of redemption, plus accrued interest in cash, provided, however, that if the Debentures are redeemed before being outstanding for six (6) months, CanadaBis shall pay the holder all accrued and unpaid interest, plus an additional amount to ensure the holder receives at least six (6) months of interest on the principal amount being redeemed, net of any interest already paid.
The Debentures will be subject to a statutory hold period of four months and one day expiring on August 3, 2025 . A second and final tranche of the Financing is expected to close in the following week, or such date as agreed upon between the Company and the Agent.
CanadaBis has granted the Agent an option (the " Agent's Option") to increase the size of the Financing by up to 15% of the Debentures, exercisable by giving written notice of the exercise of the Agent's Option, or a part thereof, to CanadaBis at any time up to 48 hours prior to the time of closing of the second and final tranche of the Financing.
CanadaBis is in the process of completing a plan of arrangement with Simply Solventless Concentrates Ltd. (" SSC") as more particularly disclosed in the March 12 Release (the " Arrangement"). The special meeting of CanadaBis shareholders to approve the Arrangement has been set for April 28, 2025 , and meeting materials have been filed on CanadaBis' website and under CanadaBis's profile on SEDAR+ at www.sedarplus.ca. The Financing is not conditional upon the closing of the Arrangement, nor is the Arrangement conditional upon closing the Financing. The indenture governing the Debentures will include customary language providing that common shares of SSC shall be issued upon conversion of Debentures following closing of the Arrangement, with an adjustment to the conversion price of the Debentures based on the exchange ratio provided in the Arrangement.
In connection with the closing of the first tranche of the Financing, CanadaBis paid to the Agent an aggregate amount equal to $140,850 consisting of the Agent's fee and an advisory fee. As additional consideration for the services of the Agent, on the closing of the first tranche of the Financing, CanadaBis granted: (i) an aggregate of 1,251,000 broker warrants to the Agent; and (ii) an aggregate of 150,000 advisory warrants (together, the " Compensation Options"). Each Compensation Option entitles the holder thereof to acquire one Common Share at an exercise price equal to $0.10 for a period of 48 months following the date hereof.
A copy of the arrangement agreement is available on SEDAR+ under CanadaBis' profile at www.sedarplus.ca.
ABOUT CANADABIS CAPITAL LTD.
CanadaBis Capital Inc. is a public CanadaBis (TSXV: CANB) is a vertically integrated Canadian cannabis CanadaBis focused on achieving large-scale growth in the global cannabis market – with specific attention paid to supplying the fast-emerging concentrates category through their Stigma Grow cultivation and BHO extraction facility.
For more information regarding CanadaBis, please see www.canadabis.com and www.stigmagrow.ca.
Notice on Forward Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include but are not limited to statements with respect to the timing of the closing of any subsequent tranche of the Financing, the total proceeds to be raised pursuant to the Financing, and the completion of the proposed Arrangement. These statements while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward- looking statements. Such factors include, but are not limited to: receipt of regulatory approvals including the TSX Venture Exchange or delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Although CanadaBis has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. CanadaBis does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
3 hours ago
- Globe and Mail
Reitmans (Canada) Limited Reports First Quarter Financial Results
MONTREAL, June 17, 2025 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET) (TSXV: RET -A), one of Canada's leading specialty apparel retailers, today reported its financial results for the first quarter ended May 3, 2025. Unless otherwise indicated, all comparisons are to the first quarter ended May 4, 2024. All dollar amounts are in Canadian currency.
Cision Canada
4 hours ago
- Cision Canada
BOAT ROCKER MEDIA ANNOUNCES TRANSACTION SHAREHOLDER APPROVAL AT SPECIAL MEETING OF SHAREHOLDERS
TORONTO, June 17, 2025 /CNW/ - Boat Rocker Media Inc. ("BRMI" or the "Company") (TSX: BRMI) is pleased to announce that, at the special meeting (the "Meeting") of the holders (the "Shareholders") of subordinate voting shares and multiple voting shares of the Company, the Shareholders of the Company voted in favour of the resolutions approving, among things, (i) the reverse take-over of BRMI by Blue Ant Media Inc. ("Blue Ant"), a privately owned company controlled by Michael MacMillan; (ii) the management buyout of Boat Rocker Studios by BRMI Co-Founders and Co-Executive Chairmen, David Fortier and Ivan Schneeberg, and BRMI CEO John Young; and (iii) the sale of the Company's interests in The Initial Group Global, LLC, a U.S. talent management business, to Fairfax Financial Holdings Limited (collectively, the "Transaction"), all as further described in the management information circular dated May 9, 2025 in respect of the Meeting (the "Circular"). Pursuant to the Transaction, BRMI will acquire all of the shares of Blue Ant in exchange for shares of BRMI on the basis of an exchange ratio of 1.25 shares (prior to the 10:1 share consolidation included in the share capital reorganization noted below and described in the Circular, and 0.125 shares on a post-consolidation basis) of BRMI for each share of Blue Ant (the "Exchange Ratio"). The Exchange Ratio implies a valuation of C$1.80 per BRMI share (pre-consolidation), representing a premium of approximately 125% to the March 21, 2025 closing price of BRMI's shares on the Toronto Stock Exchange ("TSX"), the last trading day prior to the announcement of the Transaction, and a premium of approximately 145.1% to the 30 trading day volume weighted average trading price per BRMI share on the TSX as at that date. The approval of the resolutions in respect of the Transaction were voted as follows: The completion of the Transaction is subject to certain conditions, including the approval of Blue Ant's lenders, the final order of the Ontario Superior Court of Justice (Commercial List), and other closing conditions customary in transactions of this nature. Requisite approval of the shareholders of Blue Ant, approval by the Canadian Radio-television and Telecommunications Commission, and the approval under the Competition Act (Canada) have been obtained. About Boat Rocker Media Inc. Boat Rocker (TSX: BRMI) is the home for creative visionaries. An independent, integrated global entertainment company, BRMI's purpose is to tell stories and build iconic brands across all genres and mediums. With offices around the world, BRMI's creative and commercial capabilities include Scripted, Unscripted, and Kids and Family television production, distribution, brand & franchise management, a world-class animation studio, and talent management through a minority stake in The Initial Group, a new company launched by TPG. A selection of BRMI's projects include: Invasion (Apple TV+), Palm Royale (Apple TV+), Video Nasty (BBC Northern Ireland, BBC Three, Virgin Media One, WDR), This Is the Tom Green Documentary (Prime Video), Orphan Black: Echoes (AMC), American Rust: Broken Justice (Prime Video), Beacon 23 (MGM+), Pretty Baby: Brooke Shields (Hulu), Downey's Dream Cars (Max), BS High (HBO), Orphan Black (BBC AMERICA, CTV Sci-Fi Channel), Billie Eilish: The World's a Little Blurry (Apple TV+), The Next Step (BBC, Corus, CBC), Daniel Spellbound (Netflix), and Dino Ranch (Disney+, Disney Junior, CBC). For more information, please visit Forward-Looking Information / Cautionary Statements Certain information contained in this news release may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may", "would" and "should" and similar expressions or words suggesting future outcomes. These forward-looking statements reflect material factors and expectations and assumptions of the parties. These forward-looking statements include the assumptions: that the transaction is able to be completed on the timelines and on the terms currently anticipated; that all regulatory and other required approvals can be obtained on the timelines and in the manner currently anticipated; that the anticipated benefits of the transaction are able to be achieved; that the businesses of both BRMI and Blue Ant will continue to operate in a manner consistent with past practice; and that the parties' transition plans are effective. The parties' estimates, beliefs and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Risks and uncertainties not presently known to the parties or that they presently believe are not material could cause actual results or events to differ materially from those expressed in the forward-looking statements. Additional information on these and other factors that could affect events and results are included in the Circular and other documents and reports that will be filed by BRMI with applicable securities regulatory authorities and may be accessed through the SEDAR+ website ( Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the parties' expectations only as of the date of this press release. The parties disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. U.S. Securities Matters None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws. The resulting issuer securities to be issued in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Cision Canada
4 hours ago
- Cision Canada
WHITECAP RESOURCES ANNOUNCES $300 MILLION OFFERING OF SENIOR NOTES
CALGARY, AB, June 17, 2025 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has priced an offering of $300 million principal amount of 3.761% senior unsecured notes due June 19, 2028 (the "Notes"). The net proceeds will be used to repay existing indebtedness and for general corporate purposes. Whitecap's investment grade credit rating was recently upgraded to BBB, with a stable trend, issued by DBRS, Inc. ("Morningstar DBRS"), reflecting its improved credit profile. The Notes have also been assigned a provisional rating of BBB, with a stable trend, by Morningstar DBRS. The Notes will be direct, unsecured obligations of the Company and will rank equally with all other present and future unsecured and unsubordinated indebtedness of the Company. The Notes are being offered in Canada on a private-placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation (the "Offering"). The Notes are being offered through a syndicate of agents including CIBC World Markets Inc., RBC Dominion Securities Inc., ATB Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Desjardins Securities Inc. and Merrill Lynch Canada Inc. The Notes are expected to be issued on or about June 19, 2025, subject to customary closing conditions. This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and will only be sold to "accredited investors" under applicable Canadian securities laws. The Notes will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and will not be offered or sold within the United States. ADVISORY Credit Ratings Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold or sell securities and do not address the market price or suitability of a specific security for a particular investor. There is no assurance that any rating will remain in effect for any given period of time or that any rating will not be revised or withdrawn entirely by a rating agency in the future if, in its judgement, circumstances so warrant. NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to the Offering and other aspects of our business. In particular, and without limiting the generality of the foregoing, this press release contains forward-looking information with respect to: that the Company will use the net proceeds of the Offering to repay existing indebtedness and for general corporate purposes; our belief that the credit rating from Morningstar DBRS reflects the improved risk profile; and the expected terms of the Notes and timing to issue the Notes. The forward-looking information is based on certain key expectations and assumptions made by our management, including our ability to satisfy all conditions to closing the Offering on the timeline anticipated. Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Whitecap can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. These include, but are not limited, to: the risk that we are delayed in satisfying or are unable to satisfy the conditions to closing the Offering and that closing of the Offering is delayed or does not occur; changes to credit ratings from the provisional rating disclosed herein; and general business and economic conditions and the risk of adverse changes thereto. Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on our future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect our operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website ( These forward-looking statements are made as of the date of this press release and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. SOURCE Whitecap Resources Inc.
