VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Cannabis Wheaton Income Corp. (d/b/a Wheaton Income) (TSX-V:CBW) ("Wheaton Income" or the "Company") announced today that the Company has elected to exercise its right under the warrant indenture (the “Indenture”) governing the common share purchase warrants of the Company (the “Warrants”) issued on June 29, 2017. Pursuant to the terms of the Indenture, the Company may accelerate the expiry date of the Warrants when the closing price of the common shares of the Company (the "Common Shares") on the TSX Venture Exchange (the "Exchange") exceeds $2.00 for 10 consecutive trading days.
As of the close of markets on January 15, 2018, the closing price of the Common Shares on the Exchange has exceeded $2.00 for a period of 10 consecutive trading days, commencing on January 2, 2018. Effective today, the Warrants are set to expire at 4:00 p.m. (Toronto time) on February 15, 2018. This news release constitutes notice to Warrant holders of the new expiry date. Any Warrants remaining unexercised after the new expiry date will be cancelled.
As of close of market January 15, 2018, a total of 38,467,233 Warrants of the 38,671,752 originally issued had yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $1.50. Consequently, if all the Warrants are exercised, proceeds to the Company will total $57,700,850.
ON BEHALF OF THE BOARD
"Chuck Rifici" Chairman & CEO
About Wheaton Income (TSX-V:CBW)
Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.
Stay Connected:
For more information about investing in Cannabis Wheaton, please visit: http://www.wheatonincome.com or contact our investor relations team at: 800.980.1314 or IR@wheatonincome.com. Follow up on Twitter @WheatonIncome.
Media Contact:
Sarah Bain, VP External Affairs
Email: sarah@cannabiswheaton.com
Phone: 613.230.5869
Notice Regarding Forward Looking Statements:
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: the ability to consummate transactions which are currently in discussions, regulatory or political changes, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate and sell cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, competition and other risks affecting Aphria and Wheaton in particular and the cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Neither Aphria nor Wheaton are under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward -looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither 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.