Readers should not place undue reliance on forward-looking-statements included in this news release.
NOVA STOCK FULL
With respect to forward-looking statements contained in this news release, the Company has made certain assumptions regarding, among other things, demand for the Common Shares, market conditions, and the use of the net proceeds of the ATM program.Īlthough the Company believes the expectations reflected in the forward-looking-statements, and the assumptions on which such forward-looking statements are made, are reasonable, especially given the unprecedented uncertainty of the full extent and impact of COVID-19, there can be no assurance that such expectations and assumptions will prove to be correct. These forward-looking statements include statements about the sales of Common Shares under the ATM Program and the use of the net proceeds of the ATM Program. All statements and information other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking statements are typically, but not always, identified by the use of words such as "continue", "anticipate", "will", "expect", "project", "to be", "objective", "should", "plan", "intention", and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts.
This news release contains information that, to the extent that they are not historical fact, may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation (collectively " forward-looking statements").
NOVA STOCK REGISTRATION
This news release does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares, nor shall there be any sale of the Common Shares in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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The Prospectus Supplement and the Shelf Prospectus will be available for download from SEDAR at Alternatively, the Agent participating in the ATM Program will arrange to send you these documents if you request them by contacting, in Canada:ĪTB Capital Markets, 66 Wellington Street West, Suite 3530, Toronto, ON M5K 1A1 or by telephone at (647) 776-8230, or by email at The ATM Program will be effective until the earlier of (i) the date that all Common Shares available for issue under the ATM Program have been sold, (ii) the date the Prospectus Supplement (defined below) in respect of the ATM Program or the Shelf Prospectus (defined below) is withdrawn and (iii) the date that the ATM Program is terminated by the Company or the Agent in accordance with the terms of the Equity Distribution Agreement.Ĭommon Shares issued pursuant to the ATM Program will be issued pursuant to a prospectus supplement dated J(the " Prospectus Supplement") to the Company's final base shelf prospectus dated June 27, 2022, filed with the securities commissions or similar regulatory authorities in each of the provinces and territories of Canada (the "Shelf Prospectus"). Sales of Common Shares through the ATM Program will be made pursuant to the terms of an Equity Distribution Agreement dated July 22, 2022, entered into between the Company and ATB Capital Markets Inc. The Corporation expects to use the net proceeds of the ATM Program to finance future growth opportunities including acquisitions and investments, to finance capital expenditures, to reduce outstanding indebtedness for working capital or general corporate purposes. The Company is not required to sell any Common Shares at any time during the term of the ATM Program.
As such, the prices may vary between purchasers over time. The Common Shares will be distributed at the market prices prevailing at the time of each sale, at prices relating to such prevailing market prices, and/or in any other manner permitted by applicable law. The Company will determine, at its sole discretion, the date, minimum price and maximum number of Common Shares to be sold under the ATM Program.
Any Common Shares sold through the ATM Program will be sold at prevailing market prices when issued in ordinary broker's transactions on the Toronto Stock Exchange (" TSX"), or another Canadian marketplace on which the Common Shares are listed, quoted or otherwise traded. (" Nova" or the " Company") (TSX: NOVC) today announced it has established an at-the-market equity offering program (the " ATM Program") that allows the Company to issue up to $20 million of common shares (" Common Shares") from treasury to the public from time to time, at the Company's discretion and subject to regulatory requirements. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ĮDMONTON, AB, J/CNW/ - Nova Cannabis Inc.
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