48North Cannabis Company (NRTH)

[guay]

Gross total $13,568,568,570 as NRTH accelerates warrant expiry date.
TORONTO, May 3, 2019 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH), a vertically integrated cannabis producer focused on the development of next-generation cannabis products, previously announced that it had accelerated the expiry of certain common share purchase warrants ("Warrants"), bearing an expiration date of December 2, 2020. As a result, gross proceeds to the company total $13,568,570. Of the remaining outstanding 18,227,184 Warrants, 18,091,427 Warrants, representing 99.3% of the warrants available for exercise were exercised.

The Company intends to use the gross proceeds to fund inventory and for working capital and general corporate purposes; including operational expenses related to the execution of its proposed 100-acre outdoor cannabis facility and the development of next-generation cannabis products expected to be available for retail sale in Fall 2019.

https://www.newswire.ca/news-releases/48north-accelerates-warrant-expiry-date-gross-proceeds-to-the-company-total-13-568-570-819627605.html