Wikileaf Closes $six.eight Million Financing and Information and facts Preliminary Prospectus Supplying in Connection With the Itemizing of Its Frequent Shares on the Canadian Securities Transform

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Wikileaf Applied sciences Inc. (“Wikileaf” or the “Firm”) (previously Kona Capital Ltd.) is delighted to announce the closing of its reverse takeover transaction (the “Transaction”) with A single Net Businesses Inc. (“OWS”), the proprietor and operator of the Seattle-primarily based cannabis worth comparability net internet site Wikileaf.com. As a aspect of the Transaction, Wikileaf has achieved its beforehand introduced non-public placement of roughly C$six.eight million.

Wikileaf.com is a quantity a single worth comparability platform that assists cannabis shoppers to search out place-primarily based pricing information about distinct individual marijuana strains, producers and merchandise – on the essential second when they’re deciding the location to commit their money. With more than 1.six million month-to-month visits tied to distinct geographical regions, Wikileaf will enable dispensaries and cannabis producers to make use of our no cost digital itemizing businesses to extra interact with shoppers, by way of focused advertising to cannabis shoppers of their fast space. Makers can use Wikileaf to promote their distinctive merchandise, strains and businesses, in addition to amplify their visibility and attain.

On the closing of the Transaction, Dan Nelson was appointed mainly because the President and Chief Government Officer of the Firm. Chuck Rifici was appointed Chair of the Firm. Manoj Hippola was appointed the Chief Monetary Officer and Corporation Secretary of the Firm and Patrick Lalonde was appointed mainly because the Firm’s Chief Functioning Officer. The Board of Administrators of the Firm consists of Chuck Rifici (Chair), Dan Nelson, Manoj Hippola, Megan Sanders, Joshua Babyak, Cy Scott and Connor Cruise.

The Transaction was achieved by the use of merger in between an totally owned subsidiary of the Firm and OWS. Beneath the phrases of the Transaction:

  • the exceptional frequent shares and most well-known shares of OWS (collectively, the “OWS Shares”) had been exchanged for frequent shares of the Firm (the “Frequent Shares”) on the premise of 9.8078 Frequent Shares for every single OWS Share (the “Transform Ratio”) and
  • the exceptional inventory alternatives of OWS had been exchanged for Frequent Shares on the premise of the Transform Ratio.

As a aspect of the Transaction, the Firm also achieved a non-brokered non-public placement offering of Frequent Shares (the “Financing”) for an mixture gross proceeds of roughly C$six.eight million at a worth of $.50 per Frequent Shares. The net proceeds acquired by the Firm from the Financing will likely be made use of for solution development, and for operating capital and simple firm functions.

Following the closing of the Transaction, the Firm has also filed its extended-kind non-providing preliminary prospectus (the “Prospectus“). The Prospectus has been filed with the securities regulatory authorities in every single of the provinces of Alberta, British Columbia and Ontario. The Firm has utilized to record the Frequent Shares on the Canadian Securities Transform (the “CSE“), with itemizing (the “Itemizing”) subject to the Firm fulfilling the CSE’s itemizing necessities.

The Prospectus also qualifies the distribution of 13,696,000 Frequent Shares of the Firm to holders of 13,696,000 subscription receipts of the Firm (the “Subscription Receipts“). The Subscription Receipts had been issued on March 29, 2019 and Could 13, 2019 at a worth of $.50 per Subscription Receipt.

Concurrent with the Prospectus getting reviewed by the Ontario Securities Charge (the “OSC“), the Firm has reserved “WIKI” as its ticker image on the CSE. Nonetheless, there may well be no assure that the OSC will challenge a receipt for the Firm’s final prospectus or that the CSE will settle for the itemizing of the frequent shares. A duplicate of the Prospectus is out there on SEDAR at www.sedar.com.

Quotes

“As further jurisdictions all more than the globe transfer in the path of legalizing health-related and leisure grownup cannabis use, we see the trade and funding options also shifting towards ancillary cannabis businesses. We genuinely really feel that Wikileaf presents a opportunity for every single cannabis shoppers and tiny to medium-size businesses, from dispensaries to producers, to speak and modify helpful details that can permit shoppers to entry larger information and analytics for businesses to extra perceive their shoppers’ desires.”

-Chuck Rifici, Chair of WikiLeaf

About Wikileaf

Wikileaf is a worth comparability net internet site for leisure and medicinal cannabis shoppers. Wikileaf presents shoppers with on the spot worth comparability amongst dispensaries of their fast neighborhood. It is owned and operated by Nesta Holding Co. Ltd. (“Nesta”), a individual fairness agency targeted on the worldwide cannabis trade. Nesta was primarily based in 2015 by Chuck Rifici, Chairman and CEO of Auxly Hashish Group and co-founder of Cover Improvement Corporation. For further information, please go to www.wikileaf.com.

Warning Relating to Ahead-Wanting Information

Confident statements on this details launch may well represent “forward-looking” statements which include recognized and unknown dangers, uncertainties and distinctive elements which can trigger the precise outcomes, efficiency or achievements of the Firm or the trade via which it operates, to be materially entirely distinctive from any future outcomes, efficiency or achievements expressed or implied by such forward-seeking statements. When made use of on this details launch, such statements use phrases resembling “might,” “count on,” “consider,” “plan” and distinctive comparable terminology. These statements mirror administration’s present expectations regarding future occasions and operating efficiency and communicate solely as of the date of this details launch. These forward-seeking statements include a selection of dangers and uncertainties.

These threat elements will likely be pointed out intimately underneath the heading “Threat Elements” inside the non-providing prospectus filed with the relevant regulatory authorities. New threat elements may well come up occasionally and it is not doable for administration to foretell all of these threat elements or the extent to which any problem or mixture of factors may well trigger precise outcomes, efficiency or achievements of the corporate to be materially entirely distinctive from these contained in forward-seeking statements. Offered these dangers and uncertainties, traders mustn’t location undue reliance on forward-seeking statements as a prediction of precise outcomes. Even though the forward-seeking statements contained on this details launch are primarily based mainly upon what administration believes to be inexpensive assumptions, the Firm can not assure traders that precise outcomes will likely be according to these forward-seeking statements. These forward-seeking statements are created as of Could 30, 2019. The Firm will replace these assumptions at every single reporting interval just after going public and can regulate its forward-seeking information as important.

Hold Associated

For further information about Wikileaf, please go to www.wikileaf.com, or comply with us on Twitter @Wiki_Leaf, Instagram @wiki_leaf, Fb @Wikileaf and YouTube Wikileaf.

Media Make contact with

For media enquiries solely

[email protected]

Provide: Wikileaf Applied sciences Inc.



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