Inform Exploration Corp.

July 14, 2014 09:21 ET

Inform Increases Offering with Additional Concurrent Financing for OrganiGram Inc. Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 14, 2014) - Inform Exploration Corp. (TSX VENTURE:IX) ("Inform" or the "Company") is pleased to announce that further to its news release dated June 13, 2014, and in connection with the Company's acquisition (the "Acquisition") of all of the issued and outstanding securities of OrganiGram Inc. ("OGI"), an arms'-length private New Brunswick licensed producer of medical marihuana, the Company will be increasing the size of the financing which will close concurrently with the Acquisition.

Jacob Concurrent Financing

Pursuant to an engagement letter dated July 9, 2014, the Company is pleased to announce that it will undertake an additional best efforts brokered private placement financing led by Jacob Securities Inc. ("Jacob") (the "Jacob Concurrent Financing") of common shares for gross proceeds of up to $3,000,000 on the same terms as announced by the Company in its news released of June 13, 2014.

Non-brokered Concurrent Financings

The Company may also elect to complete certain placements on a non-brokered basis (the "Non-brokered Concurrent Financing") and may pay a finder's fee on the Non-brokered Concurrent Financing upon regulatory approval.

Proceeds from the Jacob Concurrent Financing and the Non-brokered Concurrent Financing will be used for facilities development, marketing and working capital.

Following the closing of the Acquisition, the Company will, through its wholly-owned subsidiary OGI, be engaged in the licensed production of medical marihuana.

OGI is a licensed producer of medical marijuana. OGI carries out its principal activities producing and selling marijuana from its facilities in Moncton, New Brunswick, pursuant to the provisions of the Marihuana for Medical Purposes Regulations and the Controlled Drugs and Substances Act and its regulations.

Inform was incorporated under the Business Corporations Act (British Columbia) and is publicly traded on the TSX-V. Inform was formerly engaged in the acquisition, exploration and development of natural resource properties and will cease all resource exploration activity concurrent with the Acquisition.

Completion of the proposed transaction is subject to a number of conditions, including TSX-V acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon. Trading in securities of Inform Exploration Corp. should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Inform Exploration Corp.
    David Doherty
    (604) 315-1237

    Inform Exploration Corp.
    Aaron Keay
    (604) 323-6911

    OrganiGram Inc
    Denis Arsenault