Blueberries Medical Corp. Completes Business Combination with Blueberries Cannabis Corp. and $8.8 Million Private Placement of Subscription ReceiptsFebruary 05, 2019
Blueberries Medical Corp. (the “Corporation”), formerly CDN MSolar Corp., has completed a business combination with Blueberries Cannabis Corp. (“Blueberries Cannabis”), a leading Colombia-based licenced producer of medicinal cannabis and cannabis-derived products. Prior to completing the business combination, Blueberries Cannabis completed a non-brokered private placement of subscription receipts at a price of C$0.25 per subscription receipt for gross proceeds of approximately $8.8 million. In connection with completing the business combination, the subscription receipts were converted on a one-for-one basis into a total of 35,230,000 common shares of the Corporation and 17,615,000 common share purchase warrants of the Corporation exercisable for a period of two years at C$0.40 per common share purchase warrant. Trading in the common shares of the Corporation is expected to commence on the Canadian Securities Exchange on Wednesday, February 6, 2019 under the symbol “BBM”.
The Corporation is seeking to become a large-scale producer of naturally grown premium quality cannabis with its primary operations well situated in the Bogotá savannah in central Colombia.Lead by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, the Corporation has received all licenses required for the cultivation, production, domestic distribution and international export of CBD (cannabidiol) and THC (tetrahydrocannabinol)-based medical cannabis.
Wildeboer Dellelce LLP acted for Blueberries Cannabis with a team comprised of Perry Dellelce, Peter Volk, Patricia Good, Niall Sweeney and Melissa Smith (corporate/securities).