MONTRÉAL, Feb. 19, 2019 (GLOBE NEWSWIRE) -- TERRANUEVA CORPORATION (“Terranueva” or the “Company”) is pleased to announce that it has completed a private placement for an aggregate amount of $366,666 in common shares at a price of $0.50 per share, representing an aggregate of 733 332 shares of the capital stock of Terranueva. This private placement comes from the decision of all existing debenture holders who are entitle to convert their debts in accordance with their terms.
Pierre Ayotte, President and Chief Executive Officer, stated that “the equity placement from our initial creditors-investors demonstrates both an unequivocal appreciation of the achievements of the Company and of its executive team to date, and an increased confidence in Terranueva’s outlook.”
Terranueva’s Business
The Corporation aspires to be at the forefront of research and development focused on therapeutic cannabis treatments. The principle mission of Terranueva is to enhance the lives of those who experience chronic pain, migraines, sleeping disorders or anxiety, through innovative approaches to cannabis-related treatment. Terranueva’s business vision is to produce cannabis to the highest standards in terms of effectiveness, quality and stability. As a technology driven company, we aim to develop the most sophisticated automated cannabis production system that will help to create traceability of our product and increase the yield of each of our strain to produce a premium quality product in the most efficient manner.
Learn more about Terranueva at terranueva.ca
CSE nor its regulation services provider (as that term is defined in its policies) accepts responsibility for the adequacy or accuracy of this news release.
For further information, please contact:
| For Terranueva Corporation : |
| Pierre Monet, Chief Financial Officer |
| Telephone : (514) 883-8733 |