Cerus Energy Group Ltd (TSX-V:CEA) (“Cerus” or “the Company”) would like to announce a non-brokered private placement (the "offering") of up to 10,000,000 units ("units") at a price of $0.20 per unit, totaling gross proceeds of up to CAD $2,000,000. Each Unit is comprised of one (1) common share and one (1) share purchase warrant at an exercise price of $0.35 per warrant. The warrants will have an expiration date of twelve (12) months from the date of issue of the units.
In addition to the company’s operating and marketing budget, the company plans on using the proceeds of the offering for the following purposes:
- Development of Northern Chronicultures’ marijuana cultivation facility, located in Prince George, British Columbia.
- Prototyping and testing of the new “El Rollo” high-efficiency growing machines.
- Re-zoning & development of 320 acres of land towards jointly-operated grow facilities.
The Corporation may, as determined in its sole discretion, pay reasonable customary brokers and/or finders fees, as applicable, in connection with the completion of the offering. Closing will occur in one or more tranches at the sole discretion of the company.
All securities issued pursuant to the offering will be subject to applicable resale restrictions and are subject to review and approval of the TSX Venture Exchange.
For further information regarding Camarico, see the Company's profile on SEDAR at www.sedar.com.
Anthony Chan, CEO & CFO
Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important
risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the
Company’s beliefs, plans, expectations, anticipations, estimates and intentions. The words “may”, “could”, “should”, “would”,
“suspect”, “outlook”, “believe”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “target” and similar words and expressions are used
to identify forward-looking information. The forward-looking information in this news release describes the Company’s expectations
as of the date of this news release. The results or events anticipated or predicted in such forward-looking information may differ
materially from actual results or events. Material factors which could cause actual results or events to differ materially from a
conclusion, forecast or projection in such forward-looking information include, among others, risks arising from general economic
conditions and adverse industry events.
When relying on forward-looking information to make decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous
paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these
factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF
THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT
RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION ON AT ANY PARTICULAR TIME.