SOURCE: The Hydropothecary Corporation

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January 02, 2018 16:30 ET

Hydropothecary Announces Acceleration of Warrant Expiry Date

GATINEAU, QC--(Marketwired - January 02, 2018) - The Hydropothecary Corporation ("THCX" or the "Company") (TSX VENTURE: THCX) announced today that it has elected to exercise its right under the warrant indenture (the "Indenture") governing the common share purchase warrants of the Company issued on July 18, 2017 (the "Warrants") to accelerate the expiry date of the Warrants. Pursuant to the terms of the Indenture, the Company may accelerate the expiry date of the Warrants if, at any time after November 19, 2017, the closing trading price of the common shares of the Company (the "Common Shares") on the TSX Venture Exchange ("TSX-V") equals or exceeds $3.00 for a period of at least 15 consecutive trading days. As of the close of markets on December 27, 2017, the closing trading price of the Common Shares on the TSX-V exceeded $3.00 for 15 consecutive trading days.

Effective today, the expiry date for the Warrants is accelerated from July 18, 2019 to February 1, 2018. This news release constitutes notice to Warrant holders of the new expiry date. From and after 4:00 p.m. (Toronto time) on February 1, 2018, no Warrants may be exercised and all unexercised Warrants will be void and of no effect. Warrant holders who wish to exercise their Warrants should ensure that they allow sufficient time for delivery of their Warrants and the related exercise price funds to the warrant agent for the Warrants, including consulting with and instructing their investment advisors where they hold their Warrants through an investment advisor.

As of December 29, 2017, a total of 6,475,125 of the 7,856,300 originally issued Warrants had yet to be exercised. Each Warrant is exercisable to acquire one Common Share of the Company at an exercise price of $2.00. Consequently, if all Warrants are exercised, proceeds to the Company will total $12,950,250.

About The Hydropothecary Corporation

The Hydropothecary Corporation is an authorized licensed producer and distributor of medical cannabis licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulations (Canada). Hydropothecary provides naturally grown and rigorously tested medical cannabis of uncompromising quality. Hydropothecary's branding, cannabis product offering, patient service standards and product pricing are consistent with Hydropothecary's positioning as a premium brand for a legal source for medical cannabis within this new marketplace. In addition to medical cannabis production and sales, Hydropothecary explores various research and development opportunities for cannabinoid extracts, drugs and combinatory chemistry. In addition, the company is investigating the development and patenting of novel technologies related to medical cannabis, as well as the import and export of medical cannabis.

Neither the 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.

Contact Information

  • For Investor Relations Inquiries:

    Jennifer Smith
    Manager of Financial Reporting and Investor Relations
    1-866-438-THCX (8429)
    invest@THCX.com
    www.THCX.com

    For Media Inquiries:

    Julie Beun
    Publicist and Media Relations
    julie@thehydropothecary.com
    613-371-9060

    or

    Adam Miron, Director
    819-639-5498