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File: '\\doc\emailin\20200529 135307 Attachment BevCanna - News Release Announcing Closing of PP and Debt settlement and
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
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.
For investor enquiries, please contact:
Luca Leone, BevCanna Enterprises Inc.
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