NEWS PROVIDED BY Numinus Wellness Inc.
Jul 17, 2020, 18:00 ET
VANCOUVER, BC, July 17, 2020 /CNW/ -Numinus Wellness Inc. (“Numinus” or the “Company“) (TSXV: NUMI) announces that it has issued (i) 660,000 share purchase warrants (the “Warrants“) to three former holders (the “Holders” and each a “Holder“) of unsecured convertible debentures of Numinus Health Corp. (formerly Numinus Wellness Inc.) (“Subco“) and (ii) 400,000 Warrants to a former Holder of warrants of Salvation Botanicals Ltd. in consideration of the cancellation of the same, in each case with the approval of the TSX Venture Exchange (the “Exchange“).
Subco entered into subscription agreements (the “Subscription Agreements“) with the Holders in July 2019. Pursuant to the terms of the Subscription Agreements, the Holders were entitled to receive 1,320,000 common shares (the “Common Shares“) and the 660,000 Warrants in the capital of the Company upon completion of the Company’s reverse takeover transaction (the “RTO“) with Salvation Botanicals Ltd. on May 15, 2020. The Common Shares were issued upon completion of the RTO, and are set out in the Company’s RTO Filing Statement available under the Company’s profile at www.sedar.com.
Each Warrant entitles the holder thereof to purchase one common share (the “Warrant Shares“) of the Company, as constituted on June 30, 2020, at a price of $0.50 per Warrant Share until 3:00pm (Vancouver time) on June 30, 2022. The Warrants are subject to a 30 day accelerated expiry period following notice by the Company if the volume weighted average trading price of the Company’s common shares on the Exchange is greater than $0.75 per common share for a period of ten consecutive trading days.
ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.
President, Chief Executive Officer and Chair
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, and on the Company’s website.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Salvation, Subco, their securities, or their respective financial or operating results (as applicable).
SOURCE Numinus Wellness Inc.
For further information: Stacey Wallin, Chief Strategy Officer, 1.833.686.4687