Yield Growth Closes $1.4 Million Financing
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (the "Company") announces that it has closed financings totalling $1.4 million this week. The financing consisted of $700,000 in units offered through a shelf prospectus supplement at a price of $0.10 per unit (each unit consisting of one share and one warrant to purchase a common share for $0.11 over a 2 year period), as well as an additional $700,000 through a non-brokered private placement of special warrants at a price of $0.10 per special warrant (the "Special Warrants").
Each Special Warrant is convertible without payment of additional consideration by the subscriber into a unit (a "Unit") consisting of one share and one warrant to purchase a share at a price of $0.11 for a period of 2 years from the issuance of the Special Warrants.
Each Special Warrant is exercisable without payment of additional consideration for a Unit and shall be deemed to have been exercised on the earlier of (a) four months and one day from the closing date, or (b) three business days following the delivery to the subscriber of a prospectus supplement in compliance with applicable Canadian securities laws.
Of the $1.4 million raised, $388,000 was conversion of debt (none to related parties) and $17,000 was new cash invested by the CEO of the Company.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE: BOSS), (OTCQB: BOSQF) is a phytoceutical and consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, "forward looking statements") under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies do to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company's products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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