12:08:35 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rise Life Science Corp
Symbol RLSC
Shares Issued 43,998,340
Close 2018-07-03 C$ 0.33
Market Cap C$ 14,519,452
Recent Sedar Documents

Rise Life Science closes $1.44-million financing

2018-07-03 11:34 ET - News Release

Mr. Anton Mattadeen reports

RISE LIFE SCIENCE CORP. ANNOUNCES CLOSING $1.4M OF EQUITY FINANCING

Rise Life Science Corp. has closed a non-brokered private placement through the issuance of an aggregate of 4,824,399 units at a price of 30 cents per unit for gross proceeds of $1,447,319.70. Each unit comprises one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share for a period of 24 months from the date of closing at a price of 45 cents per common share. The proceeds of the offering will be used for general working capital purposes.

On June 21, 2018, Rise announced the U.S. retail debut of CBD-based sexual wellness brand Karezza, introducing its first suite of sexual health supplements, including three oral sprays -- In the Moment, Women's Daily and Men's Daily -- that support sexual performance body systems. The product suite will be sold at retail stores across California starting next week and will also soon be available through the brand's e-commerce website. The line will be expanded to include sublingual, quick-absorb tablets and a topical lubrication for enhanced erogenous sexual experience.

Anton Mattadeen, chief executive officer Rise Life Science, said, "Launching our initial suite of sexual health and wellness products in California -- the largest and most sophisticated cannabis consumer market in the world -- will ensure that Rise is well positioned to commercialize our sexual health and wellness formulations in other jurisdictions around the globe."

Upon closing the offering, certain eligible persons were paid a commission equal to 8 per cent of the gross proceeds raised from subscribers introduced to the company by such finders and issued non-transferable broker warrants equal to 8 per cent of the units issued pursuant to the offering. Each broker warrant entitles the holder thereof to purchase one common share for a period of 24 months from the date of closing of the offering at a price of 30 cents per common share.

A portion of the offering was completed pursuant to Multilateral CSA Notice 45-318, Prospectus Exemption for Certain Distributions through an Investment Dealer, and the corresponding blanket orders and rule implementing CSA 45-318 in the participating jurisdictions in respect thereof. As at the date hereof, the investment dealer exemption is available in each of British Columbia, Alberta, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA 45-318, each subscriber relying on the investment dealer exemption must obtain advice regarding the suitability of the investment from a registered investment dealer. In accordance with the requirements of CSA 45-318, there is no material fact or material change of the company that has not been disclosed.

In addition to conducting the offering pursuant to the investment dealer exemption, the offering was also conducted pursuant to other available prospectus exemptions.

The offering constituted a related party transaction within the meaning of Multilateral Instrument 61-101 as an insider of the company subscribed for an aggregate of 33,333 units pursuant to the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. The company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the offering, which the company deems reasonable in the circumstances in order to complete the offering in an expeditious manner.

About Rise Life Science Corp.

Rise Life Science develops cutting-edge cannabis consumer products for both medical and adult-use markets around the world in jurisdictions that have legal regulatory frameworks in place. All products are based on patent-pending formulations and processes to produce specifically targeted effects. A key area of focus for Rise is research-based formulations to address adult sexual health and wellness for all genders.

We seek Safe Harbor.

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