HempNova announces non-brokered private placement

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./ 

VANCOUVER, March 27, 2020 /CNW/ - HempNova Lifetech Corporation, (the "Company" or "HempNova") announces a non-brokered private placement of up to 20 million comment shares of the Company ("Shares") at a price of C$0.40 per share for gross proceeds of up to C$8 million. The Company will pay 5% finder's fee on the financing at closing. The net proceeds from the private placement will be used to fund the Company's expansion plans in 2020 and general working capital.

The Company also announces that it has granted 200,000 incentive stock options to a senior officer in accordance with the Company's stock option plan. 

ON BEHALF OF THE BOARD

"Ken Z. Cai", Chairman  

SOURCE HempNova Lifetech Corporation

For additional information on the Company, please contact Jennifer Trevitt at 604-688-8002.