WINNIPEG, Aug. 8, 2019 /CNW/ - DELTA 9 CANNABIS INC. (TSX-V: DN) (OTCQX: VRNDF) ("Delta 9" or the "Company") is pleased to announce that is has received conditional approval from the Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture Exchange ("TSXV") and list its common shares (the "Common Shares"), Common Share purchase warrants expiring December 28, 2019 (the "2017 Warrants"), Common Share purchase warrants expiring July 17, 2022 (the "2019 Warrants") and 8.5% unsecured convertible debentures (the "Debentures") on the TSX.
"We are very excited to be in the final stages of qualifying to be up listed to the TSX. This is a major milestone in our strategic growth plan and for our shareholders," said John Arbuthnot, Chief Executive Officer of Delta 9. "This eventual listing on the TSX will help to increase trading liquidity, provide access a growing investor base interested in the cannabis industry, and raise capital for further investments."
Final approval of the listing is subject to the Company meeting certain standard requirements of the TSX on or before November 5, 2019. The Company expects to satisfy all of the requirements and will make a further announcement once the TSX has issued a bulletin confirming the date on which trading on the TSX will commence. Upon completion of the final listing requirements, the Common Shares, 2017 Warrants, 2019 Warrants and Debentures will be delisted from the TSXV and begin trading on the TSX under the symbols, "DN", "DN.WT", "DN.WT.A" and "DN.DB", respectively.
"As one of Canada's only vertically integrated cannabis companies, we are excited about the opportunities in this rapidly growing market to drive shareholder value and continue Delta 9's success story. The TSX is the premier listings destination and this achievement highlights the strength of our experienced management and team, our commitment to growing shareholder value," said John Arbuthnot, Chief Executive Officer of Delta 9.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9's shares trade on the TSX Venture Exchange under the symbol "DN" and on the OTCQX under the symbol "VRNDF". For more information, please visit www.delta9.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future business plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include statements relating to the Company satisfying all of the listing requirements of the TSX on or before November 5, 2019 and the Company's expectation of receiving final approval from the TSX to list the Common Shares, 2017 Warrants, 2019 Warrants and Debentures on the TSX. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including the Company being able to satisfy the listing requirements of the TSX and the risk factors set forth in the annual information form of Delta 9 dated April 30, 2019 which has been filed on SEDAR.
No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and 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, except as required by applicable securities laws.
SOURCE Delta 9 Cannabis Inc.