California Cannabis Company Plus Products Raises $20 Million in IPO

Plus Products Inc. Completes CAD$20 Million Initial Public Offering

SAN MATEO, Calif., Oct. 26, 2018 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (the “Company”) is pleased to announce the successful completion of the Company’s initial public offering (the “IPO”) of 6,153,847 subordinate voting shares (the “Offered Shares”) at a price of CAD$3.25 per Offered Share for total gross proceeds of CAD$20,000,002.75.

The IPO was made through a syndicate of agents lead by PI Financial Corp., and including Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the “Agents”). The Company has granted the Agents 297,784 non-transferrable share purchase warrants (the “Agents’ Warrants”) with each Agents’ Warrant exercisable into one subordinate voting share in the capital of the Company at the price of CAD$3.25 per subordinate voting share for a period of 24 months from today. In addition, the Agents received a fee equal to 6% of the gross proceeds of the IPO from subscribers other than those on the President’s List and a fee equal to 2.5% of the gross proceeds of the IPO received from the President’s List subscribers. Furthermore, PI Financial Corp. received a corporate finance fee of US$200,000, which was satisfied by the Company by issuing 80,000 subordinate voting shares to PI Financial Corp. upon closing of the IPO.

The Offered Shares were listed on the Canadian Securities Exchange (the “CSE”), effective Thursday, October 25, 2018 and will begin trading on Monday, October 29, 2018, under the trading symbol “PLUS” on the CSE.

The securities of the Company 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. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About PLUS

The Company is a branded products manufacturer based in California. Its products consist of cannabis infused edible, which it sells to both the regulated medicinal and adult-use recreational markets. PLUS™ is currently one of the fastest-growing edible brands in California with several top-selling products, by category.

The Company’s mission is to make cannabis safe and approachable – that starts with manufacturing high-quality products delivering consistent experiences. All products are produced in the Company’s dedicated food-safe cannabis manufacturing facility in southern California.

Original press release