Cannabis CPG MSO BellRock Brands Provides Further Update on Previously Announced Equity Financing



BellRock Brands Inc. (“BellRock” or the “Company”) (CSE: BRCK.U), an industry-leading cannabis consumer packaged goods (“CPG”) multi-state operator (“MSO”), wishes to announce an update to its previously disclosed USD$30,000,000 equity financing with a strategic institutional investor (the “Equity Financing”).

Under the amended terms, the Equity Financing is expected to be structured as an initial US$30,000,000 unit offering at a price per unit of US$0.0685, with each unit comprised of one (1) common share and one (1) common share warrant. Each warrant will be exercisable within 48 months following the date of issuance at a price of US$0.10 per share. If the warrants are fully exercised, the total gross proceeds from the Equity Financing would be approximately US$75,000,000.

The Company intends to disclose additional details regarding the terms of the Equity Financing following the execution of definitive agreements in connection therewith. There can be no assurance that the Equity Financing will be completed on the terms disclosed or at all. Completion of the Equity Financing is subject to satisfaction of numerous conditions, including execution of definitive agreements and receipt of all applicable third party and regulatory approvals.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities issued referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.


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