Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (“Sweet Earth” or the “Company”) is pleased to announce further to its news release dated August 21, 2020 it has closed a non-brokered private placement of 13.4 million units (“Units”) of the Company at a price of $0.20 per Unit to raise total proceeds of approximately $2,682,000 (the “Offering”).

Each Unit consists of one (1) common share in the capital of the Company (a “Share“) and one (1) transferable common share purchase warrant of the Company (a “Warrant“). Each Warrant entitles the holder to purchase one additional common share (a “Warrant Share“) at an exercise price of $0.25 per Share for a period of 12 months from the closing date of the Offering.


In connection with the Offering, the Company paid cash finder’s fees in the amount of $4,200 and issued a total of 21,000 broker warrants (the “Broker Warrants“). The Broker warrants have the same terms as the Warrants issued under the Offering, but are non-transferable.

All securities issued in connection with the Offering will be subject to a statutory four-month hold period expiring December 26, 2020.

The Company intends to use the proceeds from the Offering for the development of new product lines, company and new product marketing costs, as well as working capital and general corporate purposes.

Three directors of the Company participated in the Offering and acquired an aggregate of 300,000 Units. Such participation constituted a “related party transaction” as defined under Multilateral Instrument 61‐101 (“MI 61‐101“). The issuance to the directors is exempt from the formal valuation and minority shareholder approval requirements of MI 61‐101 as neither the fair market value of any securities issued to nor the consideration paid by such persons exceeded 25% of the Company’s market capitalization.

About Sweet Earth

Sweet Earth is a vertically integrated “farm to shelf” hemp grower with a farm in Applegate, Oregon, that maintains a full line of hemp and CBD products for the US and global market. Its products combine CBD with herbal and organic ingredients, all of which are selected for their beneficial properties to soothe, rejuvenate, and reduce inflammation. In addition to high-end finished products, Sweet Earth prides itself on sustainability by minimizing the use of plastics in both production and packaging. Sweet Earth‘s in-house genetics team has been working on its own proprietary hemp strain. This strain has been grown in its indoor greenhouse resulting in high yielding CBD rich flower. Sweet Earth looks forward to planting this new strain outdoors for the 2020 season. Sweet Earth products are sold on its website: www.sweetearthcbd.com.

ON BEHALF OF THE BOARD

“Chris Cooper”
Chris Cooper, Director

For additional information contact:
Peter Espig / CEO and Director
Telephone: (778) 385-1213
Email: info@sweetearthcbd.com

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

The securities being referred to in this news release have not been, nor will they be, registered under the United States (U.S.) Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63215

copyright (c) newsfile corp. 2020

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