(via TheNewswire)
Pursuant to the terms of the Credit Facility, Blackhawk has agreed to draw down an initial tranche of
The loan provides for 40-per-cent warrant coverage for each advance or drawdown, determined as being 40 per cent of the principal amount of the tranche divided by the Corporation’s share price at the time of the advance. The exercise price of the warrants will be set at 140 per cent of the Corporation’s share price at the time of the advance and the warrants will expire three years after the date they are granted. In connection with the initial tranche, Blackhawk has issued 1,538,461 warrants to the Investor whereby each warrant will entitle the Investor to purchase one common share of the Corporation at a price of
As part of the Credit Facility, the Investor will have the option to convert up to 100 per cent of the principal amount of the loan into shares at a fixed conversion price equal to 120 per cent of the market price of the shares at the time of the applicable drawdown. The fixed conversion price for the initial tranche is
“The team here at RiverFort has been very impressed with the work being undertaken for Trip Pharma and the operations of
Blackhawk, the Investor and RiverFort are independent and operate at arm's length from one another. The loan agreement and any warrants issued to the Investor pursuant to the loan agreement will be issued pursuant to prospectus exemptions set out in National Instrument 45-106 –Prospectus Exemptionsand any shares issued upon conversion of the loan or upon exercise of the warrants will, if issued, also be issued pursuant to prospectus exemptions set out in NI 45-106 and will be subject to applicable statutory hold periods under National Instrument 45-102 –Resale of Securities.
About
Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both
The Corporation diligently posts updates through videos from the official company YouTube channelhttps://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
Please join the conversation on our Blackhawk group supporter’s telegram group athttps://t.me/Blackhawkgrowthcorpand visit us online athttps://www.blackhawkgrowth.com.
For further information please contact:
(403)-991-7737
fred@blackhawkgrowth.com
Cautionary Note Regarding Forward-Looking Statement
All statements in this press release, other thanstatements of historical fact, are “forward-looking information” with respect to the Corporation within the meaning of applicable securities laws, including with respect to use of theproceeds from the Credit Facility. The Corporation provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Corporation ’s public filings under the Corporation’s SEDAR profile at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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Copyright (c) 2021 TheNewswire - All rights reserved., source