BERLIN, Germany, May 6th, 2019 – Chinook Tyee Industry Limited (“Chinook”) (TSXV: XCX) (FSE: C4T), announces a non-brokered placement of up to 10,000,000 common shares at a price of $0.15 per share for gross proceeds of up to $1.5-million for working capital purposes. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws. Chinook expects to complete the offering on or before June 2019.
Chinook Tyee Industry Limited
Chinook is a Berlin based investment company with two European subsidiaries, AMP Alternative Medical Products GmbH (AMP) and Mercury Partners & Company plc. AMP plans to import pharmaceutical grade (EU-GMP) cannabis produced by Canadian licensed producers into Germany. AMP in cooperation with its business partners will provide EU-GMP audit, logistical, transportation, importation and other related services for the importation of medical cannabis into Germany. Mercury Partners & Company plc is a Malta based investment holding company that invests mainly in German distressed assets. Chinook has 10,217,796 shares outstanding and trades on the TSX Venture Exchange (symbol: “XCX”) and Frankfurt Stock Exchange (symbol: “C4T”). www.amp-eu.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares in the United States. The shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to the completion of the offering, the timing thereof and the expected use of proceeds from the offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mr. Alex Blodgett, Director
Tel: +1 (236) 833-1602