Sativa Wellness Group Inc. Announces PDMR Director Disclosure

Rhea-AI Summary

Sativa Wellness Group Inc. (CSE:SWEL)(OTC PINK:SCNNF) announced the closure of the first tranche of its non-brokered private placement, raising C$1,023,750 by selling 13,000,000 Units at C$0.07875 each. Director Clive Standish participated through Exhall Pty Ltd. Following the transaction, Standish holds 13,083,768 shares, representing 3.73% of the company. The issued securities are subject to a hold period ending on August 1, 2021, as per Canadian securities laws. The offering remains unregistered under U.S. law.

Positive

• Raised C$1,023,750 from the private placement.
• Clive Standish's investment indicates strong insider confidence.

Negative

• None.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, BC / ACCESSWIRE / April 12, 2021 / Sativa Wellness Group Inc. (CSE:SWEL)(OTC PINK:SCNNF) ("Sativa Wellness" or the "Company") announces that as part of the recent closure of the first tranche of its non-brokered private placement of units of the Company (each, a "Unit") previously announced on April 9, 2021 (the "Placement") Clive Standish, one of the board of directors took part.

Before this placement Clive Standish held 83,768 shares and 83,768 warrants in Sativa Wellness. As part of this placement Exhall Pty Ltd, a company related to Clive Standish, purchased 13,000,000 Units at a price of C$0.07875 per Unit for aggregate gross proceeds of C$1,023,750. Each Unit is comprised of one common share (each, a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one common share in the capital of the Company (a "Warrant Share") at a price of C$0.105 per Warrant Share until March 31, 2023.

The total number of shares Clive has an interest in directly or indirectly is 13,083,768 common shares which represents 3.73% of the company's shares and the total number of warrants he has an interest in is 6.586,768.

The securities issued under the first tranche of the Offering will be subject to a statutory hold period expiring on August 1, 2021, in accordance with applicable Canadian securities laws.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration on applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there by any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

All references to currency in this news release are to Canadian currency.

For further information regarding Sativa Wellness, see Sativa Wellness' disclosure documents on SEDAR at www.sedar.com.

On behalf of the Board of Directors,

Geremy Thomas
Executive Chairman
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com www.sativawellnessgroup.com

Anne Tew
Corporate Secretary
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com www.sativawellnessgroup.com

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements relating to the completion of the Offering and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SOURCE: Sativa Wellness Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/640069/Sativa-Wellness-Group-Inc-Announces-PDMR-Director-Disclosure

FAQ

What is the significance of Sativa Wellness Group's recent private placement?

Sativa Wellness Group raised C$1,023,750 through a private placement, indicating potential for future growth.

What is the price per Unit in Sativa Wellness Group's private placement?

The price per Unit in the private placement was C$0.07875.

Who participated in the private placement of Sativa Wellness Group?

Clive Standish, a director, participated in the placement via Exhall Pty Ltd.

How many shares does Clive Standish hold in Sativa Wellness Group?

Clive Standish holds 13,083,768 shares, representing 3.73% of the company's total shares.

What is the statutory hold period for the securities issued by Sativa Wellness?

The statutory hold period for the securities expires on August 1, 2021.