DLTNF - Delta 9 Announces the Renewal of its at-the-Market Equity Offering Program
(TheNewswire)
Winnipeg, MB - TheNewswire- October 2 4 ,2023 - Delta 9 Cannabis Inc. (TSX:DN) (OTC:DLTNF) (“ Delta 9 ” or the “ Company ”) ispleased to announce that it has established an at-the-market equityprogram (the “ATM Program”) that allows the Company toissue up to $5,000,000 of common shares in the capital of the Company (the “Common Shares”) fromtreasury to the public from time to time, at the Company’s discretion.
Distributions of the Common Shares through the ATMProgram will be made pursuant to the terms of an equity distributionagreement (the “Equity Distribution Agreement”) dated October 23,2023 between the Company and Haywood Securities Inc. (the“Agent”).
Pursuant to the Equity Distribution Agreement, theCommon Shares may be offered and sold by theAgent : (a) in privatelynegotiated transactions with the consent of the Company and,if required, by the Toronto Stock Exchange (the “TSX”); (b) as block transactions; (c) by the Agent, on the TSX or on any other“marketplace” (as such term is defined in National Instrument 21- 101 – MarketplaceOperation ) in Canada; or (d) by anymethod permitted by law that constitutes an “at-the-marketdistribution” under National Instrument 44-102 – ShelfDistributions .
The volume and timing of distributions under the ATMProgram, if any, will be determined in the Company’s sole discretion. The ATM Program will be effective until the earlierof the issuance and sale of all of the Common Shares issuable pursuantto the ATM Program and November 12, 2025, unless terminated prior tosuch date by the Company or the Agent. As Common Sharessold in the ATM Program will be issued and sold at the prevailingmarket price at the time of the sale, prices may vary among purchasersduring the period of the distribution. The Company expects to use the net proceeds from the ATM Program for generalcorporate purposes and working capital needs.
The offering under the ATM Program will be madepursuant to a prospectus supplement dated October 23, 2023 (the“Prospectus Supplement”) to the Company’s final short form base shelfprospectus dated October 12, 2023 for each of the provinces andterritories of Canada (the “Base Shelf Prospectus”).
The Prospectus Supplement, the Base Shelf Prospectus,and the Equity Distribution Agreement are available on the SEDARwebsite maintained by the Canadian Securities Administrators at www.sedar.com .
Alternatively, the Agent will send copies of theProspectus Supplement, the Base Shelf Prospectus and EquityDistribution Agreement, as applicable, upon request to HaywoodSecurities Inc., Haywood Securities Inc., 700 – 200 Burrard St.,Vancouver, BC V6C 3L6, or by telephone at (604) 697-7126, or by emailat ecm@haywood.com.
No securities regulatory authority has either approvedor disapproved of the contents of this press release. This pressrelease is for information purposes only and does not constitute anoffer to sell or the solicitation of an offer to buy the CommonShares, nor shall there be any sale of these securities in any stateor jurisdiction in which such offer, solicitation or sale would beunlawful prior to registration or qualification under the securitieslaws of any such state or jurisdiction.
For more information contact:
Investor & MediaContact:
Ian Chadsey VP CorporateAffairs
Mobile :204-898-7722
E-mail: ian.chadsey@delta9.ca
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integratedcannabis company focused on bringing the highest quality cannabisproducts to market. The Company sells cannabis products throughits wholesale and retail sales channels and sells its cannabis growpods to other businesses. Delta 9 ’s wholly-owned subsidiary,Delta 9 Bio-Tech Inc., is a licensed producer of medical andrecreational cannabis and operates an 80,000 square foot productionfacility in Winnipeg, Manitoba,Canada . Delta 9 ownsand operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9 ’s shares trade on the TorontoStock Exchange under the symbol “DN” and on the OTC under thesymbol “DLTNF”. For more information, please visit www.delta9.ca.
Disclaimer forForward-Looking Information
Certain statements in this releaseare forward-looking statements, which reflect the expectations ofmanagement regarding the Company’s future business plans and other matters.Forward-looking statements consist of statements that are not purelyhistorical, including any statements regarding beliefs, plans,expectations or intentions regarding the future. Such statements aresubject to risks and uncertainties that may cause actual results,performance or developments to differ materially from those containedin the statements, including the Company’s actualfinancial results being different from its estimates as well as allrisk factors set forth in the annual information form of Delta9 dated June 30, 2023 whichhas been filed on SEDAR. No assurance can be given that any of theevents anticipated by the forward-looking statements will occur or, ifthey do occur, what benefits the Company will obtain fromthem. Readers are urged to consider these factors carefully inevaluating the forward-looking statements contained in this newsrelease and are cautioned not to place undue reliance on suchforward-looking statements, which are qualified in their entirety bythese cautionary statements. These forward-looking statements are madeas of the date hereof and the Company disclaims anyintent or obligation to update publicly any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by applicable securitieslaws.
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