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TORONTO, June 18, 2018 (GLOBE NEWSWIRE) -- 1600978 Ontario Inc. (which operates as Natural MedCo) (“NMC”) and Carlaw Capital V Corp. (the “Corporation”) (NEX:CVC.H) are pleased to announce that NMC has closed its previously announced financings for aggregate total gross proceeds of approximately $20.8 million. For details of the financings, please refer to the Corporation’s press release issued on June 14, 2018, which is available at www.sedar.com.
In addition, the Corporation has received conditional approval from the TSX Venture Exchange (the “TSXV”) relating to its proposed qualifying transaction with NMC (the “Proposed Transaction”). Closing of the Proposed Transaction remains subject to satisfying conditions for final approval of the TSXV. The Corporation will issue a further announcement when the Corporation expects its shares to resume trading on the TSXV. A filing statement prepared in accordance with the requirements of the TSXV in connection with the Proposed Transaction has been filed with the TSXV and the applicable securities regulators on SEDAR and is available at www.sedar.com.
For additional information about the Proposed Transaction, please see the Corporation’s press releases dated December 18, 2017 and June 14, 2018, which are available at www.sedar.com.
About Natural MedCo
NMC received its license on July 22, 2016 under the Marihuana for Medical Purposes Regulations (MMPR), and is now a licensed producer of dried cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). NMC is led by a team of agricultural experts and has a 120,000 sq. ft. scalable greenhouse production facility located in Middlesex County, Ontario with 32 acres of adjacent land for future expansion. NMC is a private corporation existing under the Business Corporations Act (Ontario).
About Carlaw Capital V Corp.
Carlaw is a capital pool company formed under the TSX Venture Exchange (the “TSXV”) Capital Pool Company program. Material information about Carlaw can be found on SEDAR under Carlaw’s issuer profile at www.sedar.com.
The TSXV has in no way passed upon the merits of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For additional information, please contact:
| Amar Bhalla CEO, CFO and Corporate Secretary Carlaw Capital V Corp. Telephone: (416) 922-9060 | Melinda Rombouts President and CEO Natural MedCo Telephone: (855) 628-6337 |