Blueberries Medical Announces C$1 Million Non-Brokered Private Placement
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) has announced a non-brokered private placement of 96,064,935 common shares at C$0.011 per share, aiming to raise approximately C$1.05 million (US$740,000). The offering is expected to close around March 25, 2024.
The placement will be primarily led by Terraflos Inc, a Latin American cannabis company controlled by Facundo Garreton, who serves as Blueberries' Chairman, CEO, and director. Director Guillermo Rodriguez is also expected to participate in the offering.
The net proceeds will be utilized to fund and expand operations, along with general corporate and working capital purposes. The transaction qualifies as a 'related party transaction' under MI 61-101, with exemptions from formal valuation and minority shareholder approval requirements.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) ha annunciato un collocamento privato non intermediazione di 96.064.935 azioni ordinarie a C$0,011 per azione, con l'obiettivo di raccogliere circa C$1,05 milioni (US$740.000). Si prevede che l'offerta si chiuda intorno al 25 marzo 2024.
Il collocamento sarà principalmente guidato da Terraflos Inc, una compagnia di cannabis dell'America Latina controllata da Facundo Garreton, che ricopre il ruolo di Presidente, CEO e direttore di Blueberries. Anche il direttore Guillermo Rodriguez è previsto partecipare all'offerta.
Il ricavato netto sarà utilizzato per , insieme a fini generali aziendali e di capitale circolante. La transazione è qualificata come 'transazione con parti correlate' ai sensi della MI 61-101, con esenzioni dai requisiti di valutazione formale e approvazione degli azionisti di minoranza.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) ha anunciado una colocación privada no intermediada de 96.064.935 acciones comunes a C$0,011 por acción, con el objetivo de recaudar aproximadamente C$1,05 millones (US$740.000). Se espera que la oferta cierre alrededor del 25 de marzo de 2024.
La colocación será liderada principalmente por Terraflos Inc, una empresa de cannabis de América Latina controlada por Facundo Garreton, quien se desempeña como Presidente, CEO y director de Blueberries. También se espera que el director Guillermo Rodriguez participe en la oferta.
Los ingresos netos se utilizarán para financiar y expandir las operaciones, junto con fines generales corporativos y de capital de trabajo. La transacción califica como 'transacción con partes relacionadas' bajo la MI 61-101, con exenciones de los requisitos de valoración formal y aprobación de accionistas minoritarios.
블루베리 메디컬 코퍼레이션 (CSE: BBM) (OTC: BBRRF)는 C$0.011 주당 96,064,935주에 대한 비중개 사모 배정을 발표하며, 약 C$1.05 백만 (US$740,000)을 모금할 계획입니다. 이 제안은 2024년 3월 25일경에 마감될 것으로 예상됩니다.
이번 배정은 주로 테라플로스 Inc에 의해 주도되며, 이 회사는 파쿤도 가레톤이 지배하는 라틴 아메리카의 대마초 회사입니다. 그는 블루베리의 회장, CEO 및 이사로 재직 중입니다. 이사인 기예르모 로드리게스도 이번 제안에 참여할 것으로 예상됩니다.
순수익은 운영 자금 조달 및 확장에 사용되며, 일반 기업 및 운영 자본 목적에도 사용될 것입니다. 이 거래는 MI 61-101에 따라 '관련자 거래'로 분류되며, 공식 평가 및 소수 주주 승인 요건에서 면제됩니다.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) a annoncé un placement privé non intermédié de 96.064.935 actions ordinaires à C$0,011 par action, visant à lever environ C$1,05 million (US$740.000). L'offre devrait se clôturer aux alentours du 25 mars 2024.
Le placement sera principalement dirigé par Terraflos Inc, une entreprise de cannabis d'Amérique Latine contrôlée par Facundo Garreton, qui est Président, CEO et directeur de Blueberries. Le directeur Guillermo Rodriguez devrait également participer à l'offre.
Les produits nets seront utilisés pour financer et étendre les opérations, ainsi que pour des fins générales d'entreprise et de fonds de roulement. La transaction est qualifiée de 'transaction entre parties liées' au sens de la MI 61-101, avec des exemptions aux exigences d'évaluation formelle et d'approbation des actionnaires minoritaires.
Blueberries Medical Corp (CSE: BBM) (OTC: BBRRF) hat eine nicht vermittelte Privatplatzierung von 96.064.935 Stammaktien zu C$0,011 pro Aktie angekündigt, mit dem Ziel, etwa C$1,05 Millionen (US$740.000) zu sammeln. Es wird erwartet, dass das Angebot um den 25. März 2024 abgeschlossen wird.
Die Platzierung wird hauptsächlich von Terraflos Inc geleitet, einem lateinamerikanischen Cannabisunternehmen, das von Facundo Garreton kontrolliert wird, der als Vorsitzender, CEO und Direktor von Blueberries fungiert. Auch der Direktor Guillermo Rodriguez wird voraussichtlich an dem Angebot teilnehmen.
Die Nettomittel werden verwendet, um Betrieb und Expansion zu finanzieren, sowie für allgemeine Unternehmens- und Betriebskapitalzwecke. Die Transaktion qualifiziert sich als 'Transaktion mit nahestehenden Personen' gemäß MI 61-101, mit Ausnahmen von den Anforderungen an die formelle Bewertung und die Genehmigung durch Minderheitsaktionäre.
- Secured C$1.05M in new funding
- Management participating in financing shows confidence
- Funds allocated for operations expansion
- Low share price of C$0.011 indicates potential financial distress
- Significant dilution with 96M new shares
- Heavy reliance on insider funding
TORONTO, March 07, 2025 (GLOBE NEWSWIRE) -- Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce a non-brokered private placement consisting of the sale of 96,064,935 common shares (“Common Shares”) at a price of C
It is expected that the Offering will be led by Terraflos Inc. (“Terraflos”), a cannabis company with operations throughout Latin America that was founded, and is controlled, by Facundo Garreton, the Chairman, Chief Executive Officer and a director of Blueberries. Guillermo Rodriguez, a director of the Company, is also expected to participate in the Offering.
Participation by Terraflos and Messrs. Garreton and Rodriguez (collectively, the “Insiders”) in the Offering will be considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company will be exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation of the Insiders in the Offering in reliance of sections 5.5(b) and 5.7(1)(b) of MI 61-101. A material change report will be filed in connection with the participation by the Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.
About Blueberries Medical Corp.
Blueberries is a Latin American licensed producer of premium quality cannabis derivatives with its primary operations ideally located in the Bogotá Savannah of central Colombia. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries' combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.
Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:
Gustavo Gutiérrez, Country Manager, Colombia Operations
ggutierrez@blueberriesmed.com
Tel: +57 317 667 4812
Thomas Rodriguez Prats, Chief Financial Officer
trodriguez@blueberriesmed.com
Tel: +57 311 617 4246
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the use of proceeds from the Offering, commencement of commercial production of CBD-dominant oils and products, successful implementation of full GMP standards at its extraction facility to allow for additional export potential to international markets, achieving additional milestones is contemplated, or at all, ability to expand distribution networks, ability to expand and upgrade the Company’s cultivation facilities in Colombia, internal expectations, expectations regarding the ability of the Company to access new Latin American and international markets, the ability to attract and retain new customers, and future expansion plans including development of the cultivation, production, industrialization and marketing of cannabis for commercial and scientific purposes.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Additional information regarding the Company, and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Listing Statement dated January 31, 2019 and such other risk factors included in the management’s discussion and analysis of the Corporation for the year ended December 31, 2023, each filed on its issuer profile on SEDAR+ at www.sedarplus.ca.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FAQ
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