(TheNewswire)
Ottawa, ON – TheNewswire - February 11 ,2022 – Molecule Holdings Inc. (CSE:MLCL) (OTC:EVRRF) (“ Molecule ” or the “ Company ”), a Canadian craft-focused cannabisbeverage production company, is pleased toannounce the company continues to expand with the addition of aNational Communications Lead as well as an increased headcount on theCompany’s British Columbia sales team.
Candace Sampson joins Molecule as Communications Lead and will coordinatewith the Sales Team and executive management to ensure timely,consistent, and relevant messaging across all channels. Candace hasover a decade of experience in digital marketing bringing brandstories to life, in addition to extensive experience in the broadcastspace. Candace currently hosts the radio show, “What She Said.”
The additional hire in British Columbia will workclosely with retailers and budtenders to drivesales to new stores and execute in-store marketing events. Togetherwith the team already on the ground in Ontario, Molecule is preparedto handle increased sales heading into the busy summer season.
Commented David Reingold, CEO of Molecule,“ We are excited to see the business portfoliocontinue to grow in market in Ontario and throughout the country. Weare adding to our team to ensure we are well positioned to serviceretailer needs and effectively support our brands.”
Debt Settlement Transaction
Molecule also announces that it has entered intoagreements (the “ DebtSettlement Agreements ”) with consultantCascade, (the “ Consultant ”) whereby it has agreed toconvert an aggregate of $37,500 of indebtedness (the “ Indebtedness ”) owed to the Consultantinto Common Shares (the “ Settlement Shares ”). The Indebtedness wasincurred in connection with certain past services provided by theConsultants to the Company. The Company is proposing to issue theSettlement Shares in order to preserve cash to fund futureoperations.
Pursuant to the terms of the Debt SettlementAgreements, the Company has agreed to issue an aggregate of 375,000Settlement Shares at a deemed issuance price of $0.10 per SettlementShare in full and final satisfaction of the Indebtedness owing to theConsultant. By issuing the Settlement Shares, the Indebtedness willbe definitively extinguished.
The Settlement Shares will be issued in reliance oncertain prospectus exemptions available under Canadian securitieslegislation and will be subject to a four month and one day holdperiod from the date of issuance.
Conversion of the Indebtedness and issuance of theSettlement Shares is subject to the acceptance of the CSE. There isno guarantee that such conditions precedent will be satisfied or thatany of the transactions will be completed as described herein or atall.
For further information, please contact:
André Audet, Chairman and Co-Founder Phone: 1 (888) 665-2853 x101
Email: andre@molecule.ca www.molecule.ca
About MoleculeHoldings Inc.
Molecule is a licensed producerdedicated to creating cannabis-infused beverages for the Canadianmarket. We produce leading, top-quality drinks to provide opportunityand choice to people seeking a convenient and social way to consumecannabis. Molecule is focused on growing both our portfolio, and theoverall cannabis beverage market. We want to ensure people have thebest opportunity to find exactly the product and experience theythirst for.
Neither the Canadian Securities Exchange nor itsregulation services provider accepts responsibility for the adequacyor accuracy of this press release.
Forward-Looking Statements
This press release containsstatements that constitute “forward-looking information”(“forward-looking information”) within the meaning of theapplicable Canadian securities legislation. All statements, other thanstatements of historical fact, are forward-looking information and arebased on expectations, estimates and projections as at the date ofthis news release. Any statement that discusses predictions,expectations, beliefs, plans, projections, objectives, assumptions,future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”,“anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”,“believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may”or “could”, “would”, “might” or “will” be taken tooccur or be achieved) are not statements of historical fact and may beforward-looking information. Forward-looking statements in this newsrelease include statements relating to the roles of Candace Simpsonand the additional hire in British Columbia within the Company;expected sales increases during the summer; statements regarding the engagement andactivities of Cascade, including: the Services to be provided byCascade and the consideration to be received therefor; the completionof the debt settlement transaction, including the conversion of theIndebtedness; the issuance of the Settlement Shares and acceptance ofthe transaction by the CSE; and the Company’s ability to produce cannabis-infused beveragesfor the Canadian beverage market to provide opportunities for peopleto consume cannabis. In disclosing the forward-looking informationcontained in this press release, the Company has made certainassumptions.
The Company's actual results coulddiffer materially from those anticipated in this forward-lookinginformation as a result of regulatory decisions, competitive factorsin the industries in which the Company operates, prevailing economicconditions, and other factors, many of which are beyond the control ofthe Company. The Company believes that the expectations reflected inthe forward-looking information are reasonable, but no assurance canbe given that these expectations will prove to be correct and suchforward- looking informationshould not be unduly relied upon. Any forward-looking informationcontained in this news release represents the Company's expectationsas of the date hereof and is subject to change after such date. TheCompany disclaims any intention or obligation to update or revise anyforward-looking information whether as a result of new information,future events or otherwise, except as required by applicablesecurities legislation.
Copyright (c) 2022 TheNewswire - All rights reserved.