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Bevcanna Enterprises Inc
Symbol BEV
Shares Issued 45,510,750
Close 2020-05-29 C$ 0.315
Recent Sedar Documents

ORIGINAL: Bevcanna closes debt settlement, $37,500 placement

2020-05-29 17:04 ET - News Release

Received by email:

File: '\\doc\emailin\20200529 135307 Attachment BevCanna - News Release Announcing Closing of PP and Debt settlement and
--->....docx'







Press Release

BevCanna Announces Announces Closing of 
Equity Financing and Shares for Debt Transactions

VANCOUVER, BC, May 29, 2020. Emerging leader in cannabis-infused beverages, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF,
---> FSE:7BC) ("BevCanna" or the "Company") is pleased to announce it has closed a non-brokered private placement financing 
--->(the "Equity Financing").  Pursuant to the Equity Financing, the Company sold 88,235 common shares (each, a "Share") at 
--->a price of $0.425 per Share for gross proceeds of $37,500. The intended use of proceeds of the Equity Financing is gener
--->al working capital purposes.

The Company also announces it has settled debt in the amount of $84,669.20 owed by the Company to certain creditors of t
--->he Company in exchange for 211,673 common shares (each, a "Debt Settlement Share") at a deemed price of $0.40 per Debt S
--->ettlement Share.

The securities acquired in the the Equity Financing and the debt settlement are subject to resale restrictions imposed b
--->y applicable law or regulation, including a statutory hold period expiring four months and one day from the date of clos
--->ing of the transactions.

None of the securities acquired in the Equity Financing and the debt settlement will be registered under the United Stat
--->es Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States abs
--->ent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall 
--->not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in an
--->y state where such offer, solicitation, or sale would be unlawful.

The Company also announced that Joey Bedard-Brunet has resigned as a director of the Company effective April 9, 2020, fo
--->r personal reasons. The Company wishes to thank Mr. Bedard-Brunet for his contributions to the Company.

About BevCanna Enterprises Inc.
BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) develops and manufactures cannabinoid-infused beverages and consum
--->er products for in-house brands and white label clients. With decades of experience creating, branding and distributing 
--->iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the emergi
--->ng cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 292-acre outdoor cultivation site in th
--->e fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-s
--->quare-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 210M bottles per annum.

On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.

For media enquiries or interviews, please contact:
Wynn Theriault, Thirty Dash Communications Inc.
416-710-3370
wynn@thirtydash.ca

For investor enquiries, please contact:
Luca Leone, BevCanna Enterprises Inc.
604-880-6618
luca@bevcanna.com





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