VANCOUVER, BC--(Marketwired - January 25, 2017) - Knightswood Financial Corp. (TSX VENTURE: KWF) (the "Company") announces that, further to its news releases of November 16, 2016 and December 21, 2016, it has closed its non-brokered private placement and distributed a total of 20,309,182 special warrants ("Special Warrants") priced at $0.055 per Special Warrant, for gross proceeds of $1,117,005. Each Special Warrant entitles the holder to receive, without payment of additional consideration or need for further action, one unit ("Unit") of the Company, with each Unit consisting of one common share ("Share") and one share purchase warrant ("Warrant"), with each Warrant entitling the holder to purchase one additional Share at $0.07 for 24 months. The Special Warrants will convert to Units on the earlier of: (i) May 23, 2017; and (ii) the receipt of a final prospectus qualifying the Shares and underlying Warrants.
The Company intends to use the net proceeds from the Offering to expand its existing investment business and investigate new investment opportunities in life sciences, including cannabis related businesses.
The Company has filed a non-offering prospectus with the securities commissions of British Columbia and Alberta; and is in the process of answering comments from the Commissions.
About Knightswood Financial Corp.
The Company is an investment company that seeks to provide investor returns through dividends, investment fees and capital appreciation.
ON BEHALF OF THE BOARD
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The securities referred to in this news release 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 within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
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