Weekend Unlimited Industries Inc. (“WKND!” or the “Company”) (CSE:POT)(FSE:0OS2)(OTCQB:WKULF) is pleased to announce the closing of a non brokered private placement of 6,467,500 subscription receipts (the “Subscription Receipts”) at a price of C$0.08 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of C$517,400 (the “Offering

The Offering was carried out in order to provide the Company with funding to complete its acquisition of 100% of the intellectual property assets of Ruby Mae’s, LLC (the “Transaction“), as described in detail in the Company’s news release dated June 24, 2020, a copy of which is available under the Company’s SEDAR profile at www.sedar.com (the “Transaction“).


The Subscription Receipts will automatically convert into units (“Units“) of the Company upon completion of the Transaction and the satisfaction of certain related conditions (the “Escrow Release Conditions“), provided the Transaction is completed on or before September 30, 2020 (the “Completion Deadline“). If the Transaction is not completed by the Completion Deadline, the Company will return the Offering proceeds to the subscribers. Each Unit will be comprised of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant will entitle the holder to purchase one Common Share (a “Warrant Share” and collectively, the “Warrant Shares“) at a price of $0.11 per Warrant Share (subject to adjustment in accordance with the terms and conditions of the certificate evidencing such Warrants) (the “Exercise Price“) for a period of 24 months following the date of issuance thereof, subject to acceleration if the ten day volume weighted average price of the Common Shares on the Canadian Securities Exchange is equal to or exceeds $0.35.

In connection with the Offering, the Company will pay a cash fee of $16,480 to finders and issue an aggregate of 206,000 finder warrants upon satisfaction of the Escrow Release Conditions. Each finder warrant will have the same terms as the Warrants.

The Company further announces that it will issue 600,000 Common Shares pursuant to an existing contract with a Director and an additional 625,500 Common Shares to settle an existing debt with a former Director. The Common Shares are being issued at a deemed value $0.08 per Common Share.

About Weekend Unlimited Industries Inc.

Weekend Unlimited is a lifestyle-based recreational and medicinal cannabis and CBD wellness company. We are developing and launching premium cannabis and CBD brands to deliver life’s highs – any- time, anywhere. Our CBD products are available online and at a retailer near you. Weekend Unlimited is well-positioned to launch and scale the brands that will define cannabis and CBD. Learn more at www.weekendunlimited.com.

For further information, please contact:

Mr. Charlie Lamb, President & CEO, Director Telephone: 1(236) 317-2812
E-mail: IR@weekendunlimited.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward- looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward- looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new in- formation, future events, or otherwise, except as required by securities laws.

SOURCE: Weekend Unlimited Industries Inc.

View source version on accesswire.com:
https://www.accesswire.com/600307/Weekend-Unlimited-Announces-Closing-of-Financing

News Provided by ACCESSWIRE via QuoteMedia

Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.

Keep reading... Show less

Ensuring estoraTMpatients have seamless access to their high-quality medical cannabis products

World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announce that its subsidiary Pineapple Express Delivery Inc. (“Pineapple Express Delivery” or “PED”), a leading logistics technology company offering compliant and secure delivery of controlled substances and regulated products, has partnered with CannTrust Inc. to bring same-day and next-day delivery to estoraTM medical cannabis patients in Ontario

Keep reading... Show less

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less