James E. Wagner Cultivation Arranges up to $18,000,000 in Financing for Second Site Expansion

James E. Wagner Cultivation Arranges up to $18,000,000 in Financing for Second Website Expansion

The Agreement will provide funding for the ongoing development of JWC’s second site facility. 

Each Unit shall be comprised of one (1) common share and one (1) warrant in the capital of the business. The purchase price of the Units will be agreed upon by the parties at the time of drawing each Tranche, however, Alumina Partners will be eligible to buy each Unit at a discount of the market price of the Common Shares traded on the facilities of the TSX Venture Exchange (the “Exchange”-RRB-, as ordered by the policies of the Exchange governing the discount of private placements. The exercise price of the Warrants will be set at a 50% premium of the market price of the Common Shares as determined in the related Tranche. Each Warrant shall permit Alumina Partners to obtain one (1) Common Share for five (5) years from the date of issuance.

The purpose of this Arrangement is to offer a possible source of financing for completion of the ongoing extensive construction and renovation work at the business ’s second production facility in Kitchener, Ontario. When completed, JWC2 will provide 345,000 square feet of indoor space for the cultivation of cannabis. “JWC is eager to have this source of financing available to ensure completion of JWC2 in as speedy a manner as is possible, permitting us to smoothly scale production despite a volatile capital market,” said Nathan Woodworth, President and Chief Executive Officer of JWC. This Agreement has been structured to best suit JWC’s plans for a smooth path to scale at the JWC2 site. Pursuant to the Agreement, JWC may draw down funds on a ‘as and when needed’ basis, thereby allowing JWC to continue on an upward production trajectory, and to get access to capital as may be deemed necessary by the board of directors of the Company. 

“We are pleased to encourage JWC as they prepare to bring a few of the absolute best state of the art aeroponic growing capacity online in Ontario,” additional Adi Nahmani, Managing Member of Alumina Partners. “As the industry continues to expand and evolve, superior expertise and quality in cultivation has trumped mass quantity at every turn and by each metric including net margins. We believe that JWC’s substantial operational experience and talent pool will enable them to attain the best possible results at the new facility. ”

About James E. Wagner Cultivation Corporation

JWC’s wholly-owned subsidiary is a certified Producer under the Cannabis Regulations (formerly the Access to Cannabis for Medical Purposes Regulations(“ACMPR”-RRB-) and JWC is a superior cannabis brand, focusing on producing clean, consistent cannabis. JWC employs an advanced and proprietary aeroponic platform called GrowthStormTM. JWC was founded according to family values. JWC began as a collective of growers and patients under the Marihuana Medical Access Regulations (the precursor to ACMPR). JWC’s operations are based in Kitchener, Ontario. Learn more at www.jwc.ca

For additional Information Regarding JWC, please consult with JWC’s profile on SEDAR (www.sedar.com) or the Organization ’s website: www.jwc.ca 

This press release contains statements including back-end information for purposes of applicable securities laws (“forward-looking statements”-RRB- about JWC and its business and operations which include, among other things, an investment arrangement with Alumina Partners (Ontario) Ltd. pursuant to which JWC will sell Units of the Company to Alumina Partners. The forward-looking statements can be identified by using such words as “anticipated”, “will”, “expected”, “roughly ”, “may”, “could”, “could ” or comparable words and phrases. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those implied in the forward-looking statements. For instance, risks include risks about the cannabis industry, economic aspects, the equity markets generally, financing and grant associated risks and risks related to growth and competition in addition to the risks identified in the business ’s Filing Statement available under the business ’s profile at www.sedar.com. Although JWC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there can be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release and are based on current assumptions which management believes to be reasonable. The Company disclaims any intention or responsibility, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Nathan Woodworth, President & CEO of JWC
Email: nathan@jwc.ca
Telephone: -LRB-519-RRB- 594-0144 x421

OR

George Aizpurua of First Canadian Capital Corp. 
Email: gaizpurua@firstcanadiancapital.com   
Telephone: -LRB-416-RRB- 742-5600

Published at Tue, 06 Nov 2018 12:18:14 +0000

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