KIRKLAND, Wash. -- (Business Wire)
GrowLife,
Inc. (OTCQB: PHOT), one of the nation’s most recognized indoor
cultivation product and service providers, today provided an update on
its previously announced Rights Offering (the “Offering”) and reminds
shareholders of important dates. Shareholders should begin seeing the
Offering in their online accounts, as well as be receiving information
in the mail or from their brokerage on participation in the Offering.
The Offering provides shareholders the opportunity to invest directly
into PHOT through the purchase of units at a set price of $0.012. Each
unit consists of one share of common stock along with additional
warrants, with details below. Stockholders interested in participating
are advised to work with their brokerages to participate and file the
appropriate documentation and payment with Direct Transfer, LLC, which
must be received before 6:00 PM Eastern Time on November 12, 2018,
unless extended. Also, shareholders are encouraged to find additional
information regarding the Offering including a FAQ on the Company’s
website at: Growlifeinc.com/investors/rights-offering.
For more information on the Offering, including form downloads and
information on how to participate, visit Growlifeinc.com/investors/rights-offering.
Additional inquiries regarding the Offering should be directed to the
company at 206-483-0059 or investors@growlifeinc.com.
SUMMARY OF IMPORTANT INFORMATION ON THE OFFERING
-
Each shareholder will receive one non-transferable right (the “Right”)
for each share of common stock held on the record date (October 12,
2018).
-
Each Right will provide the shareholder with the opportunity to
purchase one unit, which includes: (i) one share of Common Stock at a
subscription price of $0.012 and (ii) one warrant to purchase the
Company’s common stock for a period of 3 years, one-half of which is
exercisable for one share of our Common Stock at an exercise price of
$0.018 per share and one-half of which is exercisable for one share of
our Common Stock at an exercise price of $0.024.
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For example: if you are issued 100 Rights, and you subscribe for
100 Units, exercising all of your rights, you will receive 100
common stock shares and 100 warrants divided into 50 warrants
exercisable at $0.018 and 50 warrants exercisable at $0.024.
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Record date shareholders who fully exercise their Subscription Rights
will be eligible for an over-subscription privilege entitling these
shareholders to subscribe, subject to certain limitations and a
pro-rata allotment, for any additional shares of common stock not
purchased by others participating in the Offering.
-
The Offering expires at 6:00 PM Eastern Time on November 12, 2018,
unless extended.
The complete S-1 Amendment No. 1 can be found here.
The Offering is made pursuant to the company’s effective shelf
registration statement.
For more information about GrowLife, including the CEO’s most recent
video statement, visit the company’s website.
Products can be purchased at ShopGrowLife.com.
About GrowLife, Inc.
GrowLife,
Inc. (PHOT) aims to become the nation’s largest cultivation service
provider for cultivating organics, herbs and greens and plant-based
medicines. Our mission is to help make our customers successful. Through
a network of local representatives covering the United States and
Canada, regional centers and its e-Commerce team, GrowLife provides
essential goods and services including media, industry-leading
hydroponics and soil, plant nutrients, and thousands more products to
specialty grow operations. GrowLife is headquartered in Kirkland,
Washington and was founded in 2012.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181031005269/en/
Contacts:
Public Relations Contact:
CMW Media
Cassandra Dowell,
858-264-6600
cassandra@cmwmedia.com
www.cmwmedia.com
or
Investor
Relations Contact:
info@growlifinc.com
206-483-0059
Source: GrowLife, Inc.
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