Bhang Finalizes Debt Settlement Agreement; Issues Stocks & Warrants – Yahoo Finance | Vette Leader

Las Vegas, Nevada–(Newsfile Corp. – November 18, 2022)- bhang inc (CSE:BHNG) (OTCQB:BHNGF) (“bhang” or the “company“), a global cannabis-CPG branded company with an award-winning product portfolio, is pleased to announce that it has entered into a debt settlement agreement (the “approval“) with an adviser who has provided certain capital markets advisory services (the “creditor“).

Under the terms of the Agreement, Bhang has 3,766,666 units of Bhang (the “units“) at a price of $0.03 per unit to satisfy in full and definitively the $113,000 debt owed by the Company to the creditor. Each unit consists of one subordinate voting share of Bhang and one-half warrant. Each full warrant is exercisable on one Bhang subordinate voting share at a price of $0.05 per subordinate voting share for a period of 12 months.

Bhang has also issued 1,940,257 subordinate voting shares at a price of $0.035 per share pursuant to an agreement to license certain software and data related to industry reporting.

The Subordinate Voting Shares and underlying Subordinate Voting Shares of the above Warrants are subject to a statutory hold period of four months and one day expiring on March 19, 2023.

About Bhang

Bhang (CSE: BHNG) (OTCQB: BHNGF) has provided consumers around the world with an award-winning portfolio of premium brands for over a decade. With roots in chocolate and cannabis edibles created by master chefs, the company continues to grow as a global consumer goods company dedicated to providing products designed to enhance and complement the happiness, health and well-being of consumers. Find out why life is better with Bhang at bhangnation.com. For more Bhang news, visit bhangnation.com/blogs/press.

FORWARD LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the Company’s plans, intentions, beliefs and current expectations regarding future business activities. Forward-looking information is frequently identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar terms and includes information about: (i) the Company’s ability to perform its obligations under the Agreement; and (ii) expectations for other economic, business and/or competitive factors. Investors are cautioned that forward-looking information is not based on historical facts, but instead reflects the Company’s management’s expectations, estimates or projections regarding the Company’s business or the Company’s future results or events that are based on management’s opinions, assumptions and estimates statements are made on the basis of what are believed to be reasonable at the time. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties and undue reliance should not be placed on such information because unknown or unpredictable factors could have a material adverse effect on future results and performance could have or successes. Key factors that could cause actual results to differ materially from those projected in the forward-looking information include the following: changes in general economic, business and political conditions, including changes in financial markets; particularly in the Company’s ability to raise debt and equity in the anticipated amounts and costs; adverse changes in public perceptions of cannabis; declines in prevailing prices for cannabis and hemp products in the markets in which the Company operates; adverse changes in applicable laws or adverse changes in the application or enforcement of applicable laws; the cannabis market is highly regulated and these regulations and enforcement priorities by governmental agencies are subject to change; compliance with extensive government regulations and associated costs; and other risks described in the Company’s records www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from the intended, planned, expected, believed, estimated or expected results described herein. Although the company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Except as required by applicable law, the Company does not intend and assumes no obligation to update this forward-looking information.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities of the Company have not been and will not be registered under, and may not be offered or sold under, the United States Securities Act of 1933, as amended (the “US Securities Act”) or the securities laws of any state of the United States States or to a “US person” (as defined in Regulation S of the US Securities Act), unless registered under the US Securities Act and applicable state securities laws, or an exception to such registration requirements.

Neither CSE nor its regulatory service provider accepts responsibility for the adequacy or accuracy of this press release.

CONTACT FOR INVESTORS:

Graham Simmonds
Executive Chairman and interim CEO
bhang inc
(416) 843-2881
invest@bhangcorporation.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144821

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