LANDSDOWNE, ON,
In connection with the Financing, and further to the Company's press release of
The holder of the Secured Convertible Debenture issued by the Company on
The unsecured debt currently held by the Lender and certain of its affiliates, being: (a) the unsecured convertible debentures held by the Lender and certain of its affiliates in the aggregate principal amount of
As part of the amendments to the Unsecured Convertible Debentures, the holders of the amended Unsecured Convertible Debentures extended the maturity date of the Unsecured Convertible Debentures from
As part of the amendments to the Unsecured Note, the Lender agreed to extend the maturity date to
The Company is pleased to further announce that it currently has orders for close to 200,000 units of its products from the
Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. We produce leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on growing both our portfolio, and the overall cannabis beverage market. We want to ensure people have the best opportunity to find exactly the product and experience they thirst for.
Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this press release includes statements related to the Company's ability to ship orders to the OCS on the timing described herein or at all; the expected revenue from the orders from the OCS; the expected use of proceeds for the Financing and the Company being able to obtain the necessary materials on the timing required to ship orders to the OCS; the Company's expectations with respect to increased consumer demand; the ability of the Company to obtain long-term financing; and the Company's ability to produce cannabis-infused beverages for the Canadian beverage market to provide opportunities for people to consume cannabis. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including: that the Company will be able to source the necessary materials and have the necessary staff to complete shipments to the OCS in a timely manner or at all; the OCS remitting payment for the orders on a timely basis and in full; there not being any reduction or cancellation of orders from the OCS; the consumer demand for cannabis products following existing seasonal trends; the Company using the proceeds from the Financing as set out herein; and there not being any bankruptcy or company creditor arrangement proceedings initiated against the Company for any reason.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. For a complete list of the risk factors identified by the Company, please refer to the Company's current management's discussion and analysis, which has been filed on the Company's SEDAR page and can be accessed at www.sedar.com. The Company further notes that there are risks that: the orders to the OCS may not be shipped on the timeline described herein or at all; the Company may not be able to source materials or labour necessary to complete the orders to the OCS; the OCS may reduce or cancel its orders; the OCS may not remit payment for the orders on a timely basis; there may be unexpected reductions in consumer demand for cannabis products; the Company may use the proceeds from the Financing in other manners; and one or more creditors of the Company may initiate bankruptcy or company creditor arrangement proceedings which may divert the resources of the Company or be successful. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company 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 required by applicable securities legislation.
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