The most recent news releases regarding the $4.91 million placement & shares for debt:
Eastwest to settle debt with 3.09 million shares
2021-11-24 14:56 ET - News Release
Mr. Rodney Gelineau reports
EASTWEST BIOSCIENCE ANNOUNCES CLOSING OF SHARES FOR DEBT SETTLEMENTS
Eastwest Bioscience Inc. has issued 3,095,044 common shares at a price of five cents per common share to certain non-arm's length service providers for expense incurred on behalf of the company and arm's length service providers for settlement in respect of services provided to the company by consultants and for consulting services. The transactions with the consultants were in the normal course of business and the consideration provided was agreed to by the company and the consultants.
The company has received Toronto Stock Exchange (TSX) Venture Exchange approval on the said transactions and a statutory hold period of four-months and one day is in place on the issuance of these common shares in accordance with applicable securities laws.
About Eastwest Bioscience Inc.
Eastwest Bioscience is a vertically integrated wellness company with a multitude of business units and assets that allow for seed-to-sale supply chain management. The company sources its raw material, processes, manufactures, tests, brands, markets and distributes its products to its customers in Canada, the United States and beyond. The company owns and operates retail and manufacturing subsidiaries.
The company's retail subsidiary is the award winning, Canadian, natural health retail franchise -- the Sangster's Health Centres -- with over 40 years of legacy in the health and wellness industry. Sangster's goal is to provide natural choices through quality products and educated advice for a healthy lifestyle. Sangster's Health Centres occupies a unique position in the industry, the stores provide vast knowledge and safe natural remedies for the prevention and treatment of disease and ailments. Sangster's introduction and development of over 202 exclusively labeled products (vitamins, mineral, herbs, proteins, natural body care and organic foods) catapulted Sangster's name and product into a large number of Canadian households. From a solid base in Saskatchewan, Sangster's has become a national brand name with franchise stores located across Canada.
Orchard Vale Naturals is the company's manufacturing arm that is certified with a Health Canada Site licence and has GMP-certified NHP manufacturing capabilities. Orchard Vale Naturals specialize in custom blends and production runs of all sizes, small to large, for top-quality products with quick turnaround times. Orchard Vale Naturals operates out of the 34,000-square Health Canada licensed facility in Penticton, B.C., that is owned by Eastwest Bioscience and is the head office for all its Canadian operations.
Eastwest Bioscience unit closes $4.91-million financing
2021-11-17 13:22 ET - News Release
Mr. Rodney Gelineau reports
EASTWEST BIOSCIENCE ANNOUNCES CLOSING OF FINANCING FOR 1291085 BC LTD
Eastwest Bioscience Inc. has closed a non-brokered financing round through its subsidiary, 1290185 B.C. Ltd., an early-stage company focused on building high-quality and innovative self-storage facilities across Canada.
185 received aggregate proceeds of $4,915,300 from the issuance of 9,830,600 of its common shares at 50 cents per share. The subsidiary is using the proceeds from the offering for the acquisition and construction of new self-storage facilities and for general corporate purposes.
Rodney Gelineau, president and chief executive officer of Eastwest, commented: "This is a milestone moment for 185 as it transitions the company from concept and planning into operational mode. We are excited to have two sites under construction and several others in the pipeline."
About Eastwest Bioscience Inc.
Eastwest Bioscience is a vertically integrated wellness company with a multitude of business units and assets that allow for seed-to-sale supply chain management. The company sources its raw material, process, manufacture, test, brand, market and distribute the company's products to its customers in Canada, the United States and beyond. The company owns and operates retail and manufacturing subsidiaries.
The company's retail subsidiary is the award-winning Canadian natural health retail franchise -- Sangster's Health Centres -- with over 40 years of legacy in the health and wellness industry. Sangster's goal is to provide natural choices through quality products and educated advice for a healthy lifestyle. Sangster's Health Centres occupies a unique position in the industry; the stores provide vast knowledge and safe natural remedies for the prevention and treatment of disease and ailments. Sangster's introduction and development of over 202 exclusively labelled products (vitamins, minerals, herbs, proteins, natural body care and organic foods) catapulted Sangster's name and product into a large number of Canadian households. From a solid base in Saskatchewan, Sangster's has become a national brand name with franchise stores located across Canada.
Orchard Vale Naturals is the company's manufacturing arm that is certified with a Health Canada site licence and has GMP-certified (good manufacturing practice) NHP (natural health product) manufacturing capabilities. Orchard Vale Naturals specializes in custom blends and production runs of all sizes, small to large, for top-quality products with quick turnaround times. Orchard Vale Naturals operates out of a 34,000-square-foot Health Canada licensed facility in Penticton, B.C., owned by Eastwest Bioscience, which acts as the head office for all of Eastwest's Canadian operations.
The company's subsidiary, 185, is building a network of automated self-storage sites in British Columbia. The subsidiary's business model is designed to be low capex (capital expenditure) with highly scalable logistics. It is focused on secondary markets, consumer automation and innovative land partnerships, allowing it to move into new regions quickly at scale and with minimal risk. Eastwest hopes to build the forthcoming brand of 185 into a household name across Canada.
