Highmark closes first placement tranche for $349,862
HIGHMARK MARKETING INC. CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Highmark Marketing Inc. has completed the first tranche of a non-brokered private placement by issuing 999,607 units at a price of 35 cents per unit for gross proceeds of $349,862.45. The private placement, which was announced on June 9, has a total offering of up to 1.5 million units, which are available at a price of 35 cents per unit. Each unit consists of one common share and one full share purchase warrant. Each warrant is non-transferable and is exercisable into one common share for a period of 12 months from the date of issuance at a price of 60 cents per share. The common share and full share purchase warrant are each subject to a hold period expiring on Nov. 8, 2014.
Highmark also announces that, pursuant to the terms and conditions of a non-brokered private placement agreement entered into between Highmark and Wolverton Securities Ltd., and a referral fee agreement entered into between Highmark and Mackie Research Capital Corp., Highmark has paid an aggregate cash commission of $32,086.25 to the agents, representing 10 per cent of the gross proceeds received from subscribers introduced to Highmark by the agents. In addition, Highmark has issued an aggregate of 91,675 non-transferable warrants to the agents, representing 10 per cent of the number of units sold to subscribers introduced to Highmark by the agents. Each agent’s warrant entitles the holder to purchase one share of Highmark at an exercise price of 60 cents until July 7, 2015. The agent warrants will also be subject to a hold period ending on Nov. 8, 2014.
Net proceeds of the first tranche of the private placement will be used for working capital.
We seek Safe Harbor.
Mr. Marc Branson reports
- Published in Medical Marijuana
Canadian Securities Exchange Added to OTC Markets Group’s list of “Qualified Foreign Exchanges”
CSE issuers now eligible to apply for trading on the OTCQX and OTCQB marketplaces
The Canadian Securities Exchange (“CSE”) today announced that the exchange has been included on the list of “Qualified Foreign Exchanges” by OTC Markets Group Inc. Starting immediately, interested CSE-listed companies are eligible to apply for trading on the OTCQX and OTCQB marketplaces operated by OTC Markets Group in the United States.
Richard Carleton, CEO of the CSE, commented: “We are extremely pleased with this move by our colleagues at OTC Markets Group. Eligible CSE-listed companies are now able to leverage their Canadian stock exchange listing with us to gain access to the largest public capital market in the world, expanding reach and liquidity opportunities. We look forward to working with our issuers and OTC Markets Group to increase investor access and visibility for our listed companies in the United States.”
James Black, VP of Listings Development at the CSE, added: “This additional benefit for CSE-listed companies comes on the heels of a record setting first quarter for the exchange – eclipsing previous bests for trading and listings on our listed marketplace. The addition of the CSE to the OTC Markets Group list addresses a longstanding desire for our issuers and further solidifies our value proposition for companies seeking a primary exchange listing in Canada.”
Jason Paltrowitz, Managing Director and Global Head of Business Development at OTC Markets Group Inc., also had the following remarks: “We are pleased to add CSE to our list of Qualified Foreign Exchanges. Our OTCQX and OTCQB marketplaces offer the best informed and most efficient trading for established and venture-stage international companies that are looking to increase their visibility with U.S. investors. We look forward to working with the CSE and CSE-listed companies to highlight these exciting Canadian investment opportunities in the U.S. market.”
FOR FURTHER INFORMATION PLEASE CONTACT:
Richard Carleton
CEO, CNSX Markets Inc.
416-367-7360
richard.carleton@thecse.com
About the Canadian Securities Exchange:
The Canadian Securities Exchange is the only exchange in Canada providing trading and market information services for all domestically listed instruments. Recognized as an exchange by the Ontario Securities Commission in 2004, the CSE is designed to facilitate the capital formation process for public companies through a streamlined approach to company regulation that emphasizes disclosure and the provision of efficient secondary market trading services for investors. The exchange is home to more than 200 issues covering a broad range of industry sectors.
- Published in Business
Lakeland Resources Inc. President Jonathan Armes (TSX-V:LK)
Lakeland Resources Inc. is a pure play uranium exploration company focused on the Athabasca Basin in Saskatchewan, Canada, home to some of the world’s largest and richest high-grade uranium deposits. The Company’s common shares trade on the TSX Venture Exchange under the symbol “LK”, on the OTCQX under the symbol “LRESF” and on the Frankfurt Stock Exchange under the symbol “6LL”.
- Published in Mining
Highmark Enters Into a Binding Letter of Intent to Acquire BCBUD Producers Inc.
Highmark Marketing Inc. (CSE:HMK) (“Highmark”) is pleased to announce that it has entered into a binding letter of intent (the “Letter”) with BCBUD Producers Inc. (“BCBUD”) to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the authorized share capital of BCBUD (the “Acquisition”) from BCBUD’s shareholder, Blue Moon Advertising Inc. (“Blue Moon”).
BCBUD has prepared an application to become a licensed producer (“LP”) of marijuana and has informed Highmark that it is ready to file the application (the “Application”) under the Marijuana for Medical Purposes Regulations (“MMPR”). Highmark will cover BCBUD’s business costs relating to the Application up to a maximum of $100,000.
Highmark Marketing Inc. (CSE:HMK) (“Highmark”) is pleased to announce that it has entered into a binding letter of intent (the “Letter”) with BCBUD Producers Inc. (“BCBUD”) to acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the authorized share capital of BCBUD (the “Acquisition”) from BCBUD’s shareholder, Blue Moon Advertising Inc. (“Blue Moon”).
BCBUD has prepared an application to become a licensed producer (“LP”) of marijuana and has informed Highmark that it is ready to file the application (the “Application”) under the Marijuana for Medical Purposes Regulations (“MMPR”). Highmark will cover BCBUD’s business costs relating to the Application up to a maximum of $100,000.
BCBUD has an option to lease a 27,000 square foot building in the Township of Langley, British Columbia. The property is zoned M-2, and when the facility is operational it could be capable of producing up to 2,000,000 grams (4409 pounds) of medical marijuana per year with the additional possibility of expansion adjacent to the site.
BCBUD cannot legally become a producer under the MMPR Act until it has been granted a license, and it is currently not known if and when BCBUD will obtain that license. The key milestones to obtaining a LP license include filing an application, receiving a “Ready to Build” notice, completion of the upgrades as per the application, approval to produce upon inspection of the facility, and finally approval to distribute the product to patients. Bill Marshall, President of BCBUD, has gained extensive experience with MMPR applications while working with one of the most prolific consultants to prospective licensed producers. As the Senior Person in Charge he will be responsible for advancing the application in a timely fashion, and will have the support of the Highmark team during this process. Highmark has agreed to issue 250,000 Common Shares of Highmark to Blue Moon at the time the Application has been filed by BCBUD with Health Canada.
Once the “Ready-to-Build” notice has been received from Health Canada, Highmark will have 3 months to complete the Acquisition by issuing 2,250,000 Common Shares of Highmark to Blue Moon (the “Acquisition Shares”). If Highmark completes the Acquisition, it has committed to funding another $1,500,000 for upgrading the security, electrical, plumbing, ventilation and other improvements as per the application. At the point of receiving the “Ready to Build” notice Highmark intends to seek an equity financing in the amount of $1,500,000 to meet its obligations. In the event that a license to produce marijuana is not received within 18 months, the Acquisition Shares may be subject to cancelation.
About Highmark
Highmark is a nutraceutical company, based in British Columbia, focused on bringing the health benefits of natural and herbal remedies to the market. Highmark intends to acquire, license, distribute, and market products in the nutraceutical industry.
Further information about Highmark is available under its profile on the SEDAR websitewww.sedar.com and on Highmark’s page on the CSE website.
The CSE has not reviewed, nor approved or disapproved the content of this press release.
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Highmark. Forward-looking information is based on certain key expectations and assumptions made by the management of Highmark, including future plans for acquisitions. Although Highmark believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Highmark can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Highmark disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.
Highmark Marketing Inc.
Marc Branson
Chief Executive Officer
604.283.1722
info@highmarkcorp.ca
- Published in Medical Marijuana