Vancouver, British Columbia--(Newsfile Corp. - January 9, 2025) - The BC Bud Corporation (CSE: BCBC) (OTC Pink: BCBCF) (FSE: W04) ("The BC Bud Co" or the "Company"), announces a proposed non-brokered private placement (the "Placement") to raise up to $1,000,000 through the sale of up to 13,333,333 units (each a "Unit") at a price of $0.075 per Unit.
Each Unit will be comprised of one common share and one share purchase warrant. Each warrant will entitle the holder to acquire an additional common share at a price of $0.15 per share for a period of 24 months.
No finder's fees are expected to be paid on any portion of the Placement.
The Company expects to use the net proceeds of the Placement for general and administrative purposes and the Placement is expected to close in around January 24th, 2025.
Additionally, further to the news release dated December 3, 2024, the Company is pleased to announce that it has opened an account with Coinsquare and has been starting to accumulate XRP with its cash reserves.
Engagement of Market Maker
The Company is also pleased to announce that it has entered into a market stabilization and liquidity services agreement (the "Agreement") with Red Cloud Securities Inc. ("RCSI") to provide market-making services in accordance with the policies of the Canadian Securities Exchange ("CSE"). RCSI will trade the Company's shares on the CSE for the purposes of maintaining reasonable bid and offer spreads and improving the liquidity of the Company's shares (the "Services"). RCSI will begin providing the Services on January 15th, 2025, and will continue to provide the Services on a monthly basis for a cash fee of $5,000 per month.
RCSI will not receive shares or options as compensation for its services, however RCSI or its clients may have or may acquire a direct interest in the securities of the Company. The Company and RCSI are unrelated and unaffiliated entities. RCSI is a member of the Canadian Investment Regulatory Organization (CIRO) and can access all Canadian stock exchanges and alternative trading systems.
RCSI has a business address at 120 Adelaide Street West, Suite 1400, Toronto, ON M5H 1T1 and can be reached by email at info@redcloudsecurities.com.
About The BC Bud Co. The B.C. Bud Co. is a house of brands created by industry professionals who are passionate about the user experience.
On behalf of the board of directors of The BC Bud Co.
Brayden Sutton Chief Executive Officer and Director
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 future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the completion of the Placement, the terms of the Placement, that no finder's fees are expected to be paid on the Placement, the anticipated use of the net proceeds of the Placement and the expected closing date for the Placement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will complete the Placement on the terms and conditions expected, that the Company will receive the required corporate approvals for the Placement, that the Company will use the net proceeds of the Placement as currently anticipated, that no finder's fees will be paid in connection with the Placement, and that the Placement will close within the time frame expected.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company will not receive the required corporate approvals for the completion of the Placement, that the Company will fail to complete the Placement on the terms disclosed, or at all, that the Company will not use the net proceeds of the Placement as currently anticipated, that the Company will be required to pay finder's fees in connection with the closing of the Placement, and that the Placement will not close within the time frame expected.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Neither the Canadian Securities Exchange (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.
