Integrated Energy Storage Corp. and Medcolcanna (BVI) Inc. Close Financing Transactions for Approximately $9.1 Million

March 05, 2019

Integrated Energy Storage Corp. (“IES”) and Medcolcanna (BVI) Inc. (“Medcolcanna”) have closed a series of financing transactions, offering a combination of subscription receipts, units and common shares for aggregate gross proceeds of $9,118,450 (the “Offering”). Medcolcanna, through its wholly-owned Colombian subsidiary, Medcolcanna S.A.S., is in the process of establishing operations in Colombia as a producer of both THC and cannabidiol medical cannabis. The Offering was completed in connection with the proposed reverse take-over of IES by the current shareholders of Medcolcanna.

The Offering was co-led by GMP Securities L.P. and Canaccord Genuity Corp., acting as the agents for Medcolcanna and as the advisors for IES.

Wildeboer Dellelce LLP acted for GMP and Canaccord in connection with the Offering with a team comprised of Perry Dellelce, Peter Volk, Danny Kharazmi and Niall Sweeney (corporate/securities).