KINGSVILLE, Ontario – April 25, 2022 – Greenway Greenhouse Cannabis Corporation (CSE:GWAY) (“Greenway Greenhouse” or the “Company”) is pleased to announce it has applied to list the Warrants (as defined below) issued in connection with the Private Placement (as defined below) on the Canadian Securities Exchange (“CSE”) under the symbol “GWAY.WT”. The Company anticipates that the Warrants will commence trading on the CSE at the open of market on or about Monday, May 2, 2022. The listing of the Warrants on the CSE remains subject to receipt of all necessary regulatory approvals, including the approval of the CSE.
On December 24, 2021, the Company closed its non-brokered private placement offering of 7,272,728 units of the Company (each, a “Unit”) at a price of $1.10 per Unit for aggregate gross proceeds of $8,000,000. Each Unit consisted of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each a “Warrant”) with each Warrant being exercisable for one Common Share at an exercise price of $1.65 until September 23, 2022.
The Company recommends that all holders of Warrants contact their respective broker, investment dealer, bank or trust company for assistance in depositing their securities in advance of the anticipated trading date of the Warrants.
“Today we are delivering on one of our promises to investors, listing our warrants for trade. We have had a great relationship with investors, and we are looking to continue to build upon that,” said Darren Peddle, Chief Financial Officer of Greenway Greenhouse. “I would like to remind the warrant holders to deposit their warrants before May 2 if they hope to avoid any delays in their ability to trade them.”
Greenway Greenhouse is also pleased to announce that it has engaged the services of PI Financial Corporation (“PI Financial”) to provide market-making services in accordance with the CSE policies, commencing on April 25, 2022.
PI Financial will be Greenway Greenhouse’s second market maker, supplementing the work of the Independent Trading Group (“ITG”) which has been utilized by Greenway Greenhouse since, October 19, 2021.
PI Financial will trade Common Shares of the Company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company’s Common Shares.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available.
Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on Greenway.ca and updates can be followed on Instagram, Twitter, Facebook, and LinkedIn.
The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding the Company’s beliefs, plans, expectations, future, strategy, objectives, goals and targets, the development of future operations, and orientations regarding the future as of the date of this news release. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “aim”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, and includes those risks described in the Company’s final prospectus dated September 3, 2021, a copy of which is available under the Company’s profile at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
SOURCE Greenway Greenhouse Cannabis Corporation
Greenway Greenhouse Cannabis Corporation
Darren Peddle, Director and CFO
Greenway Greenhouse Cannabis Corporation