Liht Cannabis Corp. presents outcome of public meetings held in Shuswap, BC on November 17, 2018 and closes a private placement with key investors
KELOWNA, BC, Nov. 21, 2018 /CNW/ - Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (FSE: 2M0) ("Liht") or (the "Company") reports on the outcome of its November 17th public meetings regarding the Company's proposed operations in Celista, BC.
We are very pleased to report that hundreds of locals from surrounding Shuswap communities attended our meetings and the prevailing consensus was favorable.
Key Speakers from Liht Cannabis Corp. included: Linda Sampson, President and Chief Operating Officer, Richard Huhn, Independent Director and Founder of Full Spectrum Medicinals, Gabe Cipes, Head of Canadian Quality Assurance & Management Advisory Board Member, Josef Tyls, M.Sc. Ph.D., Management Advisory Board Member, Cody Hamilton, Responsible Person in Charge, Tylor Herold, Head of Security and Jay Simpson, Area F Director for the Columbia Shuswap Regional District (CSRD).
Highlights included:
- The opportunity to address the community with our mission, the science behind our systems, our facility design, the importance of organic-grade cannabis cultivation and our methods, community benefits including employment opportunities for the public, rooted in the communities of the Shuswap.
- We connected with Elder Bert Deneault of the Secwepemc First Nations. We acknowledged that our property in Celista, BC is on unceded Secwepemc territory. The Company looks forward to further dialogue with Elder Bert Deneault regarding the project.
- The Company had a valuable opportunity to meet, and answer questions from the community, addressing concerns and presented the opportunity for an open exchange.
- A number of opportunities with local business people were identified and new business relationships and synergies were developed.
- The Company discussed employment opportunities that will result from our investment in the community. Approximately 80 – 120 jobs will be created once the entire facility is built-out. The Company will provide training and hire locally wherever possible.
We will conduct future forums in the community to preserve transparency, enhance communication and provide information on progress.
"We warmly thank the residents and businesses of the Shuswap communities, the Secwepemc First Nations, Chase RCMP, the Columbia-Shuswap Regional District, North Shuswap Chamber of Commerce and news media for their attendance and support." Liht Cannabis Corp.
Liht Cannabis Corp. closed a non-brokered private placement unit offering to key investors on November 19, 2018.
2,156,000 units ("Units") at $0.25c CDN per unit raised the gross proceeds of $539,000 CDN (the "Unit Offering").
Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant ("Purchase Warrants") will entitle the holder to acquire one common share at $0.50c CDN. The purchase warrants may be exercised at any time until May 19, 2020.
Liht will pay cash finder fees of 7% of the gross proceeds raised from subscriptions in the unit offering from persons introduced to the Company by certain eligible Finders.
The net proceeds raised from the unit offering are intended to be used for further development of the Company's projects and general corporate purposes.
ABOUT LIHT CANNABIS CORP.
Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.
SOCIAL MEDIA:
STOCK EXCHANGES:
Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX, and in Europe, ticker symbol 2M0 on the FSE. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
Neither the CSE nor its Regulation Services Provider, the FSE nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.
MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.
Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht's ability to access private and public capital could be affected and or could not be available to support continuing operations.
Liht's business is conducted in a manner consistent with state law and is in compliance with licensing requirements.
Copies of licenses are posted on Liht's website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.
FORWARD - LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company's expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.
SOURCE Liht Cannabis Corporation
www.lihtcannabis.com or Linda Sampson, President & COO, [email protected], 778-583-4476
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