VANCOUVER, BC, January 24th, 2025 – The BC Bud Corporation (CSE: BCBC) (OTCQB: BCBCF) (“The BC Bud Co” or the “Company”) is pleased to announce that, due to significant demand, it has increased the size of its previously announced non-brokered private placement (the "Placement") to up to $1.5 million (previously $1 million). Under the upsized Placement, the Company will issue up to 20 million units (each a "Unit") at a price of $0.075 per Unit, for aggregate gross proceeds of up to $1.5 million.
Additionally, the Company has closed the second tranche of the Placement, raising gross proceeds of $511,275 through the sale of 6,816,998 Units. Each Unit consists of one common share and one share purchase 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. To date, the Company has raised total gross proceeds of $1.142 million through the sale of 15,234,330 Units. Please refer to the Company's news releases dated January 17, 2025, and January 9, 2025, for additional details regarding the Placement.
No finder’s fees were paid in connection with the first or second tranche of the Placement. All securities issued in the second tranche are subject to a statutory hold period expiring on May 25, 2025, in accordance with applicable securities legislation.
Net proceeds of the Placement will be utilized for business development and general working capital purposes.
Grant of Stock Options
The Company also announces that it has issued an aggregate of 8 million incentive stock options ("Options") to certain directors, officers, and consultants of the Company, pursuant to its omnibus share incentive plan.
Each Option is exercisable by the holder to purchase one common share of the Company at an exercise price of $0.12 for a period of two years.
About The BC Bud Co.
The BC 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 & 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 execution and impact of the stock option grants.
Material Assumptions:
The Company has made certain assumptions, including but not limited to:
- That the Company will use the net proceeds as currently anticipated.
- That the Company’s business plans will remain unchanged.
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 net proceeds as anticipated.
- The possibility of unanticipated costs and changes in the Company’s business plans.
- The risk of regulatory changes or other factors affecting the use of the net proceeds.
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 Canadian Securities Exchange (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.