Original News Release
Herbal Dispatch expects to close financing Sept. 19
Mr. Philip Campbell reports
HERBAL DISPATCH PROVIDES EQUITY PRIVATE PLACEMENT UPDATE
Herbal Dispatch Inc. today provided an update on its proposed equity private placement. As previously announced, the company is currently in the process of completing a non-brokered private placement of up to 20 million units of the company at a price of five cents per unit for gross proceeds of up to $1-million. Each unit shall consist of one common share and one-half common share purchase warrant, with each warrant exercisable for one common share at a price of eight cents per share for a period of 24 months after the closing date.
The company has revised the estimated closing date and currently anticipates this private placement will close on or about Sept. 19, 2025.
Proceeds from the private placement will be used for working capital to support the company's working capital needs, including the purchase of inventory to support export sales growth, as well as make necessary supplier payments and principal loan payments coming due over the coming months.
While export delays have negatively impacted results in the first half of 2025, looking ahead, customer demand for new export opportunities remains very strong. If realized, these opportunities could support a much stronger financial performance in the second half of the year.
Q2 (second quarter) 2025 interim consolidated financial statements
The company also announced that it has filed its condensed interim consolidated financial statements and associated management's discussion and analysis for the three and six months ended June 30, 2025. These filings can be viewed under the company's profile on SEDAR+ and will also be available on the company's website.
About Herbal Dispatch Inc.
The company owns and operates leading cannabis e-commerce platforms, and is dedicated to providing top-quality cannabis to informed consumers at affordable pricing. The company's flagship cannabis marketplace, the Herbal Dispatch platform, is a trusted source for exclusive access to small-batch craft cannabis flower and a wide array of other product formats. The company's common shares trade on the Canadian Securities Exchange under the symbol HERB.
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