THC Therapeutics, Inc. announced that it has entered into securities purchase agreement with Shefford Capital Partners, LLC for a private placement of common shares of par value, $0.001 per share for gross proceeds of $25,000,000 and $25,000,000 debt facility; for an aggregate gross proceeds of $50,000,000 on September 3, 2021. The company will receive funding over a period of three years. The purchase price for the common stock at each closing will be closing price of the company's common stock on the date immediately preceding the earlier of the closing of each acquisition, or the announcement of that acquisition.

The obligation of the investor to purchase stock pursuant to the purchase agreement is subject to several conditions, including that the company shall have delivered a draw-down notice to the investor and the Investor shall have approved the acquisition in connection with a closing, The company will issue shares in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506(b) promulgated thereunder. The shares are subject to a lock-up period of 2 years.