Vancouver, British Columbia, February 21, 2017 – Quadron Capital Corp. (the “Company” or “Quadron”) is pleased to announce that it has closed a non-brokered private placement for aggregate gross proceeds of $1,712,100.
Rosy Mondin, chief executive officer of Quadron, stated: “We are very pleased with the market response to this financing. We have achieved escalating revenue and profit throughout the last three quarters of operation and look forward to accelerating our growth rate as we progress through 2017.”
Ms. Mondin continued, “We are excited about our upcoming listing on the Canadian Securities Exchange (“CSE”) under the symbol QCC. As a leading-edge designer, manufacturer, supplier and innovator of safe, compliant and efficient cannabis extraction systems and products, Quadron is well positioned to take advantage of new opportunities that will arise with every new jurisdiction that legalizes the production and sale of cannabis.”
The placement consisted of 8,560,500 common shares of the Company at a price of $0.20 per common share. The Company paid finders fees to certain firms in the amount of $36,750 cash and issued a total of 183,750 broker warrants. The broker warrants are exercisable at $0.20 per share and expire February 21, 2018. All securities issued in connection with the placement are subject to a hold period expiring June 22, 2017.
Proceeds of the placement will be used to expand the R&D, sales and marketing of the Company’s equipment and products and for general working purposes.
Furthermore, the Company announces that it has granted a total of 2,000,000 incentive stock options to certain directors, officers, consultants and employees of the Company. The options have an exercise price of $0.20 per share and expire in 5 years.
About Quadron: Quadron is a British Columbia-based company, and a reporting issuer in British Columbia and Alberta. The Company operates through its two subsidiaries: Soma Labs Scientific Inc. (“Soma”) and Greenmantle Products Limited (“Greenmantle”), providing ancillary equipment, products and services, designed and structured to address the complex needs and requirements of cannabis industry participants in Canada and the US. Soma provides research, services and production equipment to the biotech and bioceutical industries, including cannabis extraction and processing equipment that is being leased and/or sold to various industry participants. Greenmantle’s business involves the sale of ancillary cannabis products, such as customized dispensing devices (i.e. vaporizer pens) and consumption type products (i.e. branded encapsulation products) to authorized cannabis industry participants.
For more information, visit: www.quadroncapital.ca
For further information, contact Rosy Mondin at (604) 346-8118.
On behalf of the Board of Directors of
QUADRON CAPITAL CORPORATION
Investor Relations Contact:
KIN Communications Inc.
VP, Investor Relations
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.