The BC Bud Co Closes Upsized 3rd and Final Tranche of Financing

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - The BC Bud Corporation (CSE: BCBC) (OTC Pink: BCBCF) (FSE: W04) ("The BC Bud Co" or the "Company"), is pleased to announce that it has closed the third and final tranche of its oversubscribed previously announced non-brokered private placement (the "Placement") (see news releases dated January 9, 2025, January 17, 2025 and January 24, 2025).

Under the third tranche of the Placement, the Company raised gross proceeds of $506,436 through the sale of 6,752,483 units at a price of $0.075 per unit (each a "Unit"). Each Unit is comprised of one common share (a "Common Share") and one share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire an additional Common Share at a price of $0.15 per Common Share for a period of 24 months. The Company previously closed the first tranche of the Placement on January 17, 2025 for aggregate gross proceeds of $631,300 and the second tranche of the Placement on January 24, 2025 for aggregate gross proceeds of $511,275. To date, the Company has raised aggregate gross proceeds of $1,649,011 through the sale of 21,986,813 Units.

In connection with the third tranche of the Placement, the Company: (i) paid to certain finders an aggregate cash commission of $21,912; and (ii) issued to certain finders an aggregate of 292,160 finders warrants (the "Finder Warrants"). Each Finder Warrant will be exercisable into one unit of the Company ("Finder Unit") at a price of $0.075 per Finder Unit for a period of 24 months from January 29, 2025, with each Finder Unit comprised of one Common Share and one Warrant.

All securities issued in the third tranche are subject to a statutory hold period expiring on May 30, 2025, in accordance with applicable securities legislation.

Net proceeds of the Placement will be utilized for business development and general working capital purposes.

Warrant Extension

The Company is also pleased to announce that it intends to extend the expiry date of an aggregate of 6,800,000 common share purchase warrants (the "Prior Warrants") issued under a previous non-brokered private placement completed on February 2, 2023. Each Prior Warrant is currently exercisable into one Common Share of the Company at an exercise price of $0.15 per Common Share until February 2, 2025. Subject to the approval of the Canadian Securities Exchange (the "CSE"), the expiry date of the Prior Warrants will be extended to February 2, 2026. All other terms of the Prior Warrants will remain the same.

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Disclaimer
Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the anticipated use of the net proceeds of the Placement, the Company's intention to complete the warrant extension and that the warrant extension will be effected. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will use the net proceeds of the Placement as currently anticipated, that the Company will not run into regulatory or other barriers in carrying out its business plans, and that the Company will obtain all required corporate and regulatory approvals for the warrant extension. These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not use the net proceeds of the Placement as currently anticipated and that the Company may not obtain CSE and other required approvals to effect the warrant extension

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238894