Cannabis Wheaton Income Corp.
TSX VENTURE : CBW

Cannabis Wheaton Income Corp.

May 23, 2017 14:43 ET

Cannabis Wheaton Announces Revised Offering Size and Expanded Syndicate

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 23, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES

Cannabis Wheaton Income Corp. (TSX VENTURE:CBW) ("Cannabis Wheaton" or the "Company") is pleased to announce that it has entered into a revised engagement letter with Eight Capital and Canaccord Genuity Corp. (the "Co-Lead Agents") on behalf of a syndicate of agents consisting of Cormark Securities Inc., Haywood Securities Inc. and Mackie Research Capital Corporation (together with the Co-Lead Agents, the "Agents") to revise the size of its previously announced best efforts private placement of Special Warrants and Convertible Debenture Units, from up to $50,000,000 in aggregate to up to $80,000,000 in aggregate plus a 15% over-allotment option that can be exercised by the Agents (the "Revised Offering").

Chuck Rifici commented, "We are gratified by the enthusiastic response that has greeted this offering from institutional and retail investors.

The team is very excited to begin building its businesses alongside its unique and top-tier partners across the country.

This fundraising underpins the first stage of the transformative LP2.0 platform that Cannabis Wheaton brings about."

The Revised Offering will consist of "Special Warrants" and "Convertible Debenture Units" as more particularly described in the Company's previous press release: http://www.marketwired.com/press-release/cannabis-wheaton-announces-private-placement-special-warrants-convertible-debenture-tsx-venture-cbw-2217872.htm.

The Revised Offering is expected to close on or about June 21, 2017, subject to a number of customary closing conditions, including TSX-V approval, negotiation of definitive closing documents, due diligence and the absence of a material adverse change.

ON BEHALF OF THE BOARD

Chuck Rifici, Chairman & CEO

About Cannabis Wheaton Income Corp. (TSX VENTURE:CBW)

Backed by a team of industry experts, Cannabis Wheaton is the first cannabis streaming company in the world. Our streams will include production from across Canada coming from our partners comprised of licensed producers of cannabis (LP) and LP applicants. Cannabis Wheaton's mandate is to facilitate real growth for our streaming partners by providing them with financial support and sharing our collective industry experience.

Stay Connected

For more information about Cannabis Wheaton and our management team, please visit: http://www.cannabiswheaton.com, or follow us on Twitter @CannabisWheaton.

Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: receipt of regulatory approvals of the Revised Offering, inability to complete the Revised Offering on the proposed terms or at all, delays in obtaining or inability to obtain required government or other regulatory approvals, the ability to generate revenue through the streaming agreements, requirements to obtain additional financing, timeliness of government approvals for granting of permits and licences, including licences to cultivate cannabis, completion of the facilities, where applicable, actual operating performance of the facilities, regulatory or political change, competition and other risks affecting the Company in particular and the medical cannabis industry generally. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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