Glow Announces Non-Brokered Private Placement; Facilitating Product Delivery and Revenue Generating Activities

Rhea-AI Summary

Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) announces a non-brokered private placement financing for gross proceeds of up to $250,000 through the issuance of up to 5,000,000 units in the capital of the Company at a price of $0.05 per Unit. The Company intends to use the gross proceeds for general working capital purposes, general and administrative expenses, and expenditures related to production and manufacturing. Recently, Glow also announced new product listings with the Ontario Cannabis Store, expanding its product portfolio and launching new products in Ontario for the holiday season.

Toronto, Ontario--(Newsfile Corp. - December 15, 2023) - Glow LifeTech Corp. (CSE: GLOW) (OTCQB: GLWLF) ("Glow" or the "Company") is pleased to announce a non-brokered private placement financing for gross proceeds of up to $250,000 through the issuance of up to 5,000,000 units in the capital of the Company (the "Units") at a price of $0.05 per Unit (the "Offering"). Each Unit shall be comprised of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.07 per Common Share for a period of eighteen (18) months from the date of issuance. The Company intends to use the gross proceeds from the Offering for general working capital purposes, general and administrative expenses, and expenditures related to production and manufacturing.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities 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 as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Recent Company Updates

Glow recently announced new product listings with the Ontario Cannabis Store, expanding on its recently launched MOD^TM drops portfolio and also its first shipment of .decimal^TM precision-dosed, fast-acting capsules. The two new products recently launched in Ontario are:

• MOD^TM THC Lime Drops, water-soluble drops with a burst of natural lime flavour, quick onset, and zero sugar. Each bottle contains 60mg of THC. Packaged in an easy-to-dose squeeze dropper bottle, where 1 drop = 1mg THC.

• .decimal^TM CBD 20mg - 90 Capsules, precisely dosed capsules with 20mg of CBD featuring rapid onset powder technology to deliver a faster-acting, targeted, and controlled cannabis experience. Each pack contains 90 x 20mg capsules, perfect for those seeking a daily, discreet, and precision-dosed ingestible product.

The new products have successfully launched and are currently available in select Ontario retail locations and online at www.ocs.ca, in time for the holiday season.

Glow's Product Line

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MOD^TM drops are water-soluble cannabis extract drops with a burst of natural flavour (or flavourless versions), quick onset, and zero sugar. Packaged in a compact easy-to-dose squeeze dropper bottle, where 1 drop delivers 1 mg of cannabinoids, MOD^TM gives consumers the freedom to customize your cannabis experience, your own way, whenever, wherever. It features Glow's 100% natural MyCell^TM rapid onset technology for faster, more consistent absorption and virtually no bitter tastes. MOD^TM is setting a new standard for a more enjoyable and effective cannabis experience you can feel good about.

.decimal^TM is an innovative new brand of precisely dosed capsules featuring Glow's rapid onset powder technology to deliver a faster-acting, targeted, and controlled cannabis experience. .decimal^TM capsules are formulated with Glow's patent-pending cannabis powder extract to deliver a precise and predictable dose, every time, with faster absorption in the body, unlike conventional oil-based soft-gels. .decimal^TM is made with only plant-based ingredients, fast-dissolving vegan capsules.

SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list visit: https://www.glowlifetech.com/news

About Glow LifeTech Corp.
Glow LifeTech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has rights to the groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.

Website: www.glowlifetech.com

Contact:
James Van Staveren
Glow LifeTech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com

Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191301

FAQ

What is Glow LifeTech Corp.'s ticker symbol?

The ticker symbol for Glow LifeTech Corp. is CSE: GLOW and OTCQB: GLWLF.

What is the purpose of the private placement financing announced by Glow LifeTech Corp.?

The private placement financing aims to raise gross proceeds of up to $250,000 through the issuance of up to 5,000,000 units in the capital of the Company at a price of $0.05 per Unit. The Company intends to use the gross proceeds for general working capital purposes, general and administrative expenses, and expenditures related to production and manufacturing.

What new products did Glow LifeTech Corp. recently launch?

Glow recently launched MODTM THC Lime Drops and .decimalTM CBD 20mg - 90 Capsules in Ontario. These products are available in select Ontario retail locations and online at www.ocs.ca.

What are MODTM drops by Glow LifeTech Corp.?

MODTM drops are water-soluble cannabis extract drops with a burst of natural flavor, quick onset, and zero sugar. They are designed to give consumers the freedom to customize their cannabis experience and feature Glow's 100% natural MyCellTM rapid onset technology for faster, more consistent absorption and virtually no bitter tastes.