ICC Closes CAD$45 Million Non-Brokered Private Placement
Summary
VANCOUVER, British Columbia, March 8 2019 – ICC International Cannabis Corp. (CSE: WRLD.U)(FWB: 8K51)(OTC: WLDCF) (“ICC” or “International Cannabis” or the “Company”) is pleased to announce that it has closed a non-brokered private placement consisting of 42,187,500 units (“Units”) of the Company issued at a price of US$0.32 per Unit and secured convertible debentures (the “Debentures”) for total gross proceeds of CAD$45M (the “Offering”). Each Warrant shall entitle the holder thereof to purchase one additional Share of the Company at a price of US$0.50 for a period of two years from the closing date. Interest shall be computed on the basis of a 360-day year composed of twelve 30-day months. All securities issued pursuant to the Offering are subject to a statutory four-month and one day hold period from the date of issuance pursuant to applicable securities laws of Canada. Proceeds from the Placement will be used as general working capital to continue its ongoing obligations