SAN MATEO, Calif., Sept. 18, 2019 (GLOBE NEWSWIRE) -- Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) (the “Company” or “PLUS”), announces that the shares for debt transaction previously announced by the Company on September 11, 2019 contemplating the issuance of units consisting of subordinate voting shares and warrants in exchange for the settlement of certain debt (the “Transaction”) has been completed. Pursuant to an escrow agreement ancillary to the Transaction, 50% of the shares issued in the Transaction shall be held in escrow, to be released upon certain conditions set out in the agreement. As noted previously in the announcement of the Transaction, all securities issued are subject to a statutory four-month hold period.
About PLUS
PLUS Products is a California edibles company focused on using nature to bring balance to consumers lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA with 80 employees.
For further information contact:
Jake Heimark
CEO & Co-founder
ir@plusproducts.com
Investors:
Blake Brennan
Head of Investor Relations
ir@plusproducts.com
Tel +1 213.282.6987
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking information”). Forward-looking information are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements relating to the issuance of the Units and other such statements.
These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, completion of the conditions to the transaction and the issuance of the Units. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.