Cannabix Technologies announces Non-Brokered LIFE Private Placement

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In connection with the Offering, the Company may pay finder’s fees consisting of: (i) cash finder’s fees of up to 8% of the gross proceeds of the Offering; and (ii) finder’s units (“Finder’s Units”) in an amount equal to up to 10% of the number of Units sold in the Offering may be issued. Each Finder’s Unit consists of one Share and one half of one Warrant. Each whole Warrant shall entitle the holder to purchase one Share at a price of C$0.60 at any time on or before that date which is 24 months after the closing date of the Offering. Finder’s Units will be issued under the Exemption and form part of the Offering. Warrants underlying the Finder’s Units will also be subject to the Acceleration Clause.  

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An investor of the Company holds a contractual participation right until May 15, 2026 in respect of future equity financings by the Company. The Company has received an executed waiver from such investor indicating that they will not exercise their participation right in connection with the Offering.

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This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.

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We seek Safe Harbor.

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On behalf of the Board of Directors

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“Rav Mlait”

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CEO
Cannabix Technologies Inc.

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The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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Forward-Looking, Cautionary Statements

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This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Offering (including with respect to the timing and closing of the Offering, receipt of all required approvals for the Offering, the anticipated proceeds of the Offering, and the Company’s intended use of proceeds from the Offering). Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.

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Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

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