VANCOUVER, British Columbia, Aug. 22, 2019 (GLOBE NEWSWIRE) — Roadman Investments Corp. (TSXV: LITT) (OTC: RMANF) (FWB: 1QD) (“Roadman Investments” or the “Company”) is pleased to announce that as a result of positive institutional and retail demand for its previously announced financing (please refer to the Company’s August 7, 2019 and August 15, 2019 press release), the Company plans to upsize its non-brokered private placement up to 18,181,819 units (the “Units”) at a price of CDN$0.055 per Unit to raise gross proceeds of up to CDN$1,000,000 (the “Offering”).
Each Unit will consist of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, being a “Warrant”). Each full Warrant shall be exercisable to acquire one additional Share at a price of $0.10 for a period of two years from the date of issuance.
The Company plans to allocate the proceeds of the Offering for general corporate and working capital purposes. The second tranche of the Offering is scheduled to close on or about September 20, 2019 (the “Closing Date”) and is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
All securities issued under the Offering will be subject to a statutory hold period in Canada of four months and one day following the Closing Date. The Company may pay finder’s fees in connection with the Offering.
The Company is also pleased to announce that the Company’s investee Champignon Brands Inc. (“Champignon”) has completed its Series A financing and intends to pursue an Initial Public Offering on the Canadian Securities Exchange in Q4 of 2019.
Roadman Investments also announces it has entered into non-disclosure agreements with a variety of health and wellness and alternative medicine focused private companies, of which may result in forthcoming advisory agreements and/or the strategic deployment of capital.
Champignon’s flagship e-commerce store includes a selection of craft mushroom-infused teas and ancillary accessories, earmarked for worldwide distribution. Champignon invites all current and prospective shareholders to visit its e-commerce store and review its Vitality Superteas branded product offering by following the below stated URL:
About Roadman Investments
Roadman Investments is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.