RMMI Corp. Announces Filing of Preliminary Prospectus for Initial Public Offering of Common Shares
DATE RELEASED: MAY 23, 2018
Calgary, Alberta, May 23, 2018 (GLOBE NEWSWIRE) -- RMMI Corp. (“RMMI”) announced today that it has filed a preliminary long form prospectus with the securities regulatory authorities in the Provinces of Alberta, British Columbia and Ontario, in connection with the proposed initial public offering (the “IPO”) of RMMI’s common shares. The IPO will be for minimum gross proceeds of $4,250,000 and maximum gross proceeds of $8,750,000. The total number of common shares to be sold under the IPO and the price per common share are yet to be determined and are subject to negotiation between RMMI and the Agents (as defined below).
The IPO is being made on a commercially reasonable efforts basis and is being led by Canaccord Genuity Corp., as lead agent, and Haywood Securities Inc., as co-agent (collectively, the “Agents”). Concurrent with the filing of the preliminary long form prospectus, RMMI will apply to list its common shares for trading on the Canadian Securities Exchange (“CSE”), which will be subject to RMMI meeting all of the CSE listing requirements.
A copy of the preliminary long form prospectus is available on SEDAR (www.sedar.com). The prospectus has not yet become final for the purpose of distribution of securities to the public. There will be no sale or any acceptance of an offer to buy the common shares until a receipt for the (final) long form prospectus has been obtained from the applicable securities regulatory authorities.
RMMI, through its wholly-owned subsidiary, Rocky Mountain Marijuana Inc., submitted an application in September 2017 to Health Canada for a License to Produce medical marijuana under the Access to Cannabis for Medical Purposes Regulations (Canada). The said application is in the Detailed Review and Security Clearance stage of the application process.
About RMMI Corp.
RMMI is an Alberta based company that will focus on the production, cultivation and sale of medical marijuana in various forms, including dried marijuana, cannabis oil and derivatives. RMMI is currently at a development stage and it is yet to commence operations.
For more information about RMMI, please visit https://www.rmmi.ca.
For more information, please contact:
1050 - 639 5th Avenue S.W.
Calgary, AB T2P 0M9
Earl Connors, President and Chief Executive Officer