Vancouver, British Columbia - TheNewswire – August 30, 2021 – Gaia Grow Corp. (the “Company” or “Gaia”) (CSE:GAIA) (CNSX:GAIA.CN) (Frankfurt:GG0) announces that it has closed the final tranche of its non-brokered private placement (the “Offering”) for additional gross proceeds of $232,500. When combined with the initial tranche of the Offering, the Company has raised $1,068,500 through the issuance of 21,370,000 units (each, a “Unit”) at a price of $0.05 per Unit. Each “Unit” consists of one common share and one common share purchase warrant (each, a “Warrant”) exercisable at a price of $0.055. A total of 16,720,000 Warrants issued in connection with the initial tranche of the Offering expire on July 29, 2024, and 4,650,000 Warrants issued in connection with the final tranche of Offering expire on August 30, 2024.
All securities issued in the Offering are subject to restrictions on resale for a period of four-months-and-one-day following issuance in accordance with applicable securities laws. In connection with closing of the Offering, the Company has paid a total of $33,775 and issued 675,500 Warrants to certain arms-length parties who have assisted by introducing subscribers to the Company.
The Company also announces that it has settled outstanding indebtedness of $46,725 owing to an arms-length creditor through the issuance of 934,500 common shares at a deemed price of $0.05 per share.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect", “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could", "might", “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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