KELOWNA, BC, Nov. 1, 2018 /CNW/ - Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (FSE: 2M0) ("Liht") or the "Company") is pleased to announce the Company has secured a draw-down equity facility of up to $20,000,000 CDN with Alumina Partners, LLC ("Alumina"), a New York-based private equity firm that has made substantial investments in the cannabis space.

Alumina is a leading institutional investor in Canadian regulated cannabis and have conducted extensive due diligence in connection with this financing. The draw-down nature of the facility insures that Liht has the flexibility to access capital as needed while maintaining tight control over timing and pricing, thereby minimizing dilution. To learn more about Alumina visit http://www.aluminapartners.com/

The agreement details the purchase of up to $20,000,000 CDN of units of Liht (the "Units"), consisting of one common share (the "Share") and one common share purchase warrant (the "Warrants"), at discounts ranging from 15% to 25% of the market price of the Shares, with each private placement offering occurring exclusively at the option of the Company, throughout the 24 month term of the agreement. The exercise price of the Warrants will be at a 25% premium over the market price of the Shares. There are no upfront fees or interest associated with the use of this financing.

"We are thrilled to complete this financing agreement with Alumina. This transaction will enable Liht's continuum of development and generate positive returns for its shareholders. This financing will allow Liht to continue to aggressively execute its growth strategy in Canada and the United States." Rahim Mohamed, CEO

"We are delighted to support Liht as they approach the inflection point of their business, evolving their brand to keep pace with the ever-accelerating Cannabis landscape," noted Adi Nahmani, Alumina's Managing Member. "We have every confidence that Liht's expanded senior management team is focused on pursuing accretive shareholder value, and we look forward to participating in that success alongside other shareholders."

ABOUT LIHT CANNABIS CORP.

www.lihtcannabis.com

Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide. 

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STOCK EXCHANGES:

Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX, and in Europe, ticker symbol 2M0 on the FSE. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.

Neither the CSE nor its Regulation Services Provider, the FSE nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.

MARIJUANA INDUSTRY INVOLVEMENT:

Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.

Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht's ability to access private and public capital could be affected and or could not be available to support continuing operations.

Liht's business is conducted in a manner consistent with state law and is in compliance with licensing requirements.

Copies of licenses are posted on Liht's website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.

FORWARD - LOOKING STATEMENTS

Certain statements in this release are forward-looking statements, which includes, the financing with Alumina, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous;  the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures,  failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations,  fees charged by service providers, litigation, changes in laws, competition, and an increase in operating and constructions costs. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.

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SOURCE Liht Cannabis Corporation

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