KELOWNA, BC – February 9, 2017 – Laguna Blends (CSE:LAG; OTCMKTS:LAGBF; FRA:LB6A) is pleased to announce the closing of the second tranche of its non-brokered private placement (the “Private Placement”). The second tranche consisted of the issuance of 2,305,666 units at a price of $0.15 per unit for gross proceeds of $345,850. The Company over subscribed the private placement for a total of 7,848,995 units for gross proceeds of $1,177,350. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.25 per warrant share for a period of twelve months. The Warrants are subject to an acceleration provision of the Company whereby, in the event that the Company’s common shares trade above $0.30 per share on the Canadian Securities Exchange (CSE) for a period of ten consecutive trading days, the warrants will terminate on the date that is 30 days following receipt of a call notice in the event the holder has not exercised the warrants by such date.
All securities issued are subject to a hold period expiring four months and one day from the date of issuance. In connection with the private placement, the company paid a cash or shares finder’s fee of up to 7 per cent.
About Laguna Blends Inc.
Laguna Blends is a market leader in the distribution of Hemp and CBD products. Lagunas
growth strategy includes acquiring and incubating companies who formulate and or
manufacture Hemp products. Laguna Blends markets Hemp products utilizing its B to B
Network along with driving traffic to its Club 8 online marketplace. It’s Lagunas intent to
provide the highest quality hemp product experience for the end user, utilizing a proprietary
nanotechnology in many of its consumable and topical skin care products. Laguna is currently
seeking joint ventures and acquisitions to expand its portfolio and will aggressively begin
international expansion into Asia and Europe in 2017.
ON BEHALF OF THE BOARD
“Ray Grimm Jr” CEO, President & Director
Howe & Bay Financial: 604-449-5302
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.