Toronto, Ontario, May 10, 2016 – Mettrum Health Corp. (“Mettrum” or the “Company”), (TSXV: MT), a vertically integrated provider of cannabis products, is pleased to announce that it has completed its previously announced bought deal offering of 5,750,000 common shares of the Company (the “Shares”), inclusive of 750,000 Shares issued pursuant to the full exercise of the over-allotment option granted to the Underwriters (as defined below), at a price of $1.50 per Share for aggregate gross proceeds of approximately $8,625,000 (the “Offering”).
The Offering was led by Cormark Securities Inc. and a syndicate of underwriters including Mackie Research Capital Corporation, Canaccord Genuity Corp. and GMP Securities L.P. (collectively, the “Underwriters”).
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Mettrum Health Corp
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the MMPR, which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the MMPR system. In addition, through its wholly owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum’s functional food line, Mettrum Originals, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada). For more information, visit: www.mettrumoriginals.com and www.mettrum.com
For further information, please contact:
Mettrum Health Corp.
Director, Investor Relations
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