VANCOUVER, BC, January 29th, 2025 – The BC Bud Corporation (CSE: BCBC) (OTCQB: BCBCF) (“The BC Bud Co” or the “Company”) is pleased to announce that it has closed the third and final tranche of its oversubscribed, previously announced, non-brokered private placement (the “Placement”) (see news releases dated January 9, 2025, January 17, 2025, and January 24, 2025).
Under the third tranche of the Placement, the Company raised gross proceeds of $506,436 through the sale of 6,752,483 units at a price of $0.075 per unit (each a “Unit”). Each Unit consists of one common share (a “Common Share”) and one share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire an additional Common Share at a price of $0.15 per share for a period of 24 months.
The Company previously closed the first tranche of the Placement on January 17, 2025, for aggregate gross proceeds of $631,300 and the second tranche on January 24, 2025, for aggregate gross proceeds of $511,275. In total, the Company has now raised aggregate gross proceeds of $1,649,011 through the sale of 21,986,813 Units.
In connection with the third tranche of the Placement, the Company:
- Paid certain finders an aggregate cash commission of $21,912.
- Issued an aggregate of 292,160 finders' warrants (the “Finder Warrants”).
Each Finder Warrant is exercisable into one unit of the Company (“Finder Unit”) at a price of $0.075 per Finder Unit for a period of 24 months from January 29, 2025. Each Finder Unit consists of one Common Share and one Warrant.
All securities issued in the third tranche are subject to a statutory hold period expiring on May 30, 2025, in accordance with applicable securities legislation.
Use of Proceeds
Net proceeds of the Placement will be used for business development and general working capital purposes.
Warrant Extension
The Company is also pleased to announce that it intends to extend the expiry date of an aggregate of 6,800,000 common share purchase warrants (the “Prior Warrants”) issued under a previous non-brokered private placement completed on February 2, 2023.
Each Prior Warrant is currently exercisable into one Common Share of the Company at an exercise price of $0.15 per share, with an expiry date of February 2, 2025. Subject to the approval of the Canadian Securities Exchange (CSE), the expiry date of the Prior Warrants will be extended to February 2, 2026. All other terms of the Prior Warrants will remain unchanged.
About The BC Bud Co.
The BC Bud Co. is a house of brands created by industry professionals passionate about the user experience.
On behalf of the Board of Directors of The BC Bud Co.
Brayden Sutton
Chief Executive Officer & Director
Investor Relations
📞 Phone: 1-(778)-656-0377
📧 Email:
info@thebcbc.com
🌐 Web:
www.thebcbc.com
Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or performance and reflect management’s expectations or beliefs regarding future outcomes.
Generally, forward-looking statements can be identified by the use of terminology such as “intends,” “anticipates,” or variations of such words and phrases, as well as statements indicating that certain actions, events, or results "may," "could," "should," "would," or "occur."
These statements, made as of the date of this news release, include but are not limited to:
- The anticipated use of net proceeds from the Placement.
- The Company’s intention to complete the warrant extension.
- The expectation that the warrant extension will be effected.
Material Assumptions:
The Company has made certain assumptions, including but not limited to:
- That the net proceeds of the Placement will be used as currently anticipated.
- That the Company will not face regulatory or other barriers in carrying out its business plans.
- That the Company will obtain all required corporate and regulatory approvals for the warrant extension.
Risk Factors:
These forward-looking statements involve numerous risks and uncertainties, including but not limited to:
- The risk that the Company may not use the proceeds as anticipated.
- The risk that the Company may not obtain CSE or other regulatory approvals to effect the warrant extension.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other unforeseen factors. There is no guarantee that forward-looking statements will prove to be accurate, and actual results may differ materially from expectations. Readers are advised not to place undue reliance on forward-looking statements.
The Company does not undertake to update any forward-looking statements unless required by applicable securities laws.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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