VANCOUVER, BC / ACCESSWIRE / August 13, 2019 / Agri Tech Farms International Inc. (formerly, 1169029 B.C. Ltd.) (the "Company") announces that it has received a commitment letter for up to €200 million ($300 million CDN) in investment through an Asian wealth fund (the "Financing").
The Company is currently negotiating final terms of the Financing with the Asian fund and will provide further particulars once terms are reached that may consist of both equity and debt, including part of the Company's previously announced financing of up to $2.5 million at $0.25 per share.
The Company may pay finder's fees to eligible finders in connection with the Financing.
All of the securities issued in connection with the Financing are subject to a statutory hold period expiring four months and one day from the date of closing.
None of the securities issued in connection with the Financing will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Agri Tech Farms International
Agri Tech Farms, based near Vancouver, B.C. Canada, is in the Life Sciences sector with a core business plan of developing agricultural operations, including in the Health Canada licensed cannabis markets in Canada.
For further information please contact:
Don Schmidt, CEO and Director
Phone: (604) 467-0066
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future performance of the Company. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Financing, the proposed allocation of the proceeds of the Financing and the payment of finder's fees to eligible finders in connection with the Financing. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
SOURCE: Agri Tech Farms International Inc.
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