PubCoCEO™

Public Cannabis Company Receives SEC Qualification for Reg A+ Offering

Late last week, True Leaf Medicine International Ltd. (CSE: MJ) (FSE: TLA) (OTCQB: TRLFF) launched a CAD $10 million Reg A+ offering after it received a qualification notice from the SEC.

True Leaf is one of the few already public companies to use Reg A+ as a method to raise capital. True Leaf adheres to international reporting standards (vs SEC reporting) and thus qualifies to use Reg A+. US SEC reporting public companies can not currently use Reg A+ to raise capital (but that may soon change).

True Leaf’s Regulation A+ offering enables underwriters to solicit orders from the general public in addition to traditional accredited investors and institutional investors. The SEC qualified the Offering Statement on November 21, 2017. The Company is offering a maximum of 14,285,715 common shares at a price of $0.70 CAD per share, with a minimum subscription amount of $350 (or 500 shares) per investor.

Founded in 2013, True Leaf has two main operating divisions: True Leaf Medicine Inc. and True Leaf Pet Inc. The Company’s goal is to provide federally-approved, safe and effective cannabis products that will be sold across Canada and the United States. True Leaf Medicine Inc. was launched in July 2013 to become a licensed producer of medicinal cannabis for the Canadian market. As of October 19, 2017, True Leaf Medicine Inc. has been given approval by Health Canada to build its grow facility and will be subject to a Health Canada security inspection upon completion to allow for the cultivation, manufacture, and distribution of cannabis products. Currently, True Leaf does not have a license to produce cannabis.

“We are excited about gaining SEC qualification for our Regulation A+ offering,” said True Leaf founder and Chief Executive Officer Darcy Bomford. “It has been a remarkable nine-month journey and now we’re able to extend a unique opportunity to own a piece of True Leaf to customers, supporters, and investors who share our values and enthusiasm for the potential of our products.”

True Leaf engaged Boustead Securities as lead underwriter for the offering. “Boustead looks forward to working with True Leaf’s team to bring their Regulation A+ offering to investors,” commented David Dobkin of Boustead.

Learn more HERE.