RMMI Corp. Announces Filing of the Final Prospectus and Announces Pricing of Initial Public Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
Calgary, Alberta, June 25, 2018 – RMMI Corp. (“RMMI”) announced today that it has obtained a receipt for its final long form prospectus (the “Prospectus”) filed 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 at a price of $2.50 per common share. The IPO consist of a minimum offering of 1,700,000 common shares for aggregate gross proceeds of $4,250,000 and a maximum offering of 3,500,000 common shares for aggregate gross proceeds of $8,750,000. A copy of the Prospectus is available on SEDAR (www.sedar.com).
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”). RMMI has granted to the Agents an over-allotment option (the “Over-Allotment Option”) that is exercisable at the Agents’ sole discretion, to offer for purchase and sale additional common shares in the capital of RMMI in an amount that is equal to 15% of the total number of common shares issued under the IPO at a price of $2.50 per common share. The Agents may exercise the Over-Allotment Option, in whole or in part, at any time on or before the date that is 60 days following the date of closing of the IPO.
The closing of the IPO is expected to occur on or about July 13, 2018, subject to customary closing conditions, at which time the common shares are expected to commence trading on the Canadian Securities Exchange (the “CSE”) under the symbol “RMMI”. The CSE has conditionally approved the listing of the common shares, subject to fulfilling customary CSE listing requirements.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares 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 common shares 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 exemptions 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 an offer to buy any securities of RMMI in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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 and cannabis oil. RMMI, through its wholly-owned subsidiary, Rock Mountain Marijuana Inc., has applied for a Licence to Produce under the Access to Cannabis for Medical Purposes Regulations (Canada). RMMI is currently at a development stage and has yet to obtain the requisite licence to commence operations.
For more information about RMMI, please visit https://www.rmmi.ca.
Forward Looking Statements
Certain statements contained in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of the applicable securities legislation (collectively, “forward-looking statements”). These statements relate to management’s expectations about future events, results of operations and RMMI’s future performance (both operational and financial) and business prospects. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “contemplate,” “continue,” “propose,” “predict,” “plan,” “goal,” “seek,” “believe,” “project,” “forecast,” “pursue,” “potential,” “objective,” “estimate,” “expect,” “strategy,” “future,” “likely,” “might,” “may,” “shall,” “should,” “could,” “will,” “capable,” and similar references to future periods. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Unless otherwise indicated, these statements speak only as of the date of this news release. In particular, this news release contains forward-looking statements pertaining to the following: the exercise of the Over-Allotment Option by the Agents (if any), the planned completion of the IPO and the terms thereof, the proceeds raised under the IPO and the listing of the common shares on the CSE.
Forward-looking statements are based on certain assumptions and analyses made by RMMI in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. In making the forward looking statements included in this news release, RMMI has made various material assumptions, including but not limited to, material assumptions related to the following: obtaining the necessary regulatory approvals from Health Canada and other governmental authorities; maintaining said regulatory approvals, if and when obtained; general business and economic conditions and RMMI’s ability to successfully execute its plans and intentions.
Although RMMI believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and RMMI cannot assure that actual results will be consistent with the forward-looking statements included in this news release. Given these risks, uncertainties and assumptions, prospective purchasers of common shares should not place undue reliance on the forward-looking statements in this news release. In fact, RMMI’s actual results could differ materially from those anticipated in the forward-looking statements as a result of the risk factors and other factors set forth in the Prospectus.
The forward-looking statements included in this news release are expressly qualified by this cautionary statement and, except as otherwise indicated, are made as of the date of this news release. RMMI does not undertake any obligation to publicly update or revise any forward-looking statements or departures from them except as required by applicable securities laws. All of the forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements.
For more information, please contact:
1050 - 639 5th Avenue S.W.
Calgary, AB T2P 0M9
Earl Connors, President and Chief Executive Officer