Original News Release
Herbal Dispatch arranges $1-million private placement
Mr. Philip Campbell reports
HERBAL DISPATCH ANNOUNCES EQUITY PRIVATE PLACEMENT
Subject to regulatory approval, Herbal Dispatch Inc. intends to complete 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 transferable and exercisable for one common share at a price of eight cents per share for a period of 24 months after the closing date. The private placement shall be completed on a best-efforts basis from eligible purchasers that shall be restricted to accredited investors or other investors meeting exemption requirements for a non-brokered private placement.
As previously disclosed, Herbal Dispatch is currently experiencing strong customer interest in new export opportunities, which, if realized, could contribute to a strong financial performance in the second half of the year. Proceeds from the private placement will be used for working capital in support of the company's anticipated coming export growth.
The closing of the private placement is expected to occur before Aug. 29, 2025, and is subject to receipt of all necessary regulatory approvals, including the approval of the CSE. Should the private placement be oversubscribed, the company reserves the right to accept additional funds, subject to the approval of the Canadian Securities Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.
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 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 CSE under the symbol HERB.
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