CANNAINVESTOR Magazine October / November 2016 - Page 89

Press Release

SABER AND EMBLEM CANNABIS ANNOUNCE FINANCINGS OF AGGREGATE $23,500,000

Saber Capital Corp. and Emblem Corp., further to news releases of May 5, 2016, and Aug. 29, 2016, have provided the details of the proposed debt and equity financings to raise a minimum of $23.5-million in connection through Saber's qualifying transaction with Emblem. The Financings consist of the following:

A non-brokered private placement of subscription receipts (the "Non-Brokered Subscription Receipts") for gross proceeds of a minimum of $8,000,000. Each Non-Brokered Subscription Receipt will be sold at a price of $1.15 per Non-Brokered Subscription Receipt (the "Offering Price") and will be exchanged for a unit of the Company (a "Unit"). Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant of the Company (each whole warrant being a "Warrant"). Each Warrant is exercisable into one Common Share (the "Warrant Shares") at the exercise price of $1.75 per share for a period of 3 years from the closing date of the Qualifying Transaction (the "Closing Date"). It is intended that the Warrants will be transferable and will be subject to acceleration in the event that the volume weighted average price of the Common Shares is equal to or greater than $3.00 over a period of ten consecutive days. The Warrant Shares will be subject to a twelve-month contractual escrow period from the Closing Date (the "Non-Brokered Placement"). Subject to certain approvals, the Company intends to obtain a listing for trading of the Warrants on the Exchange;

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