VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Cannabix Technologies Inc. (CSE:BLO) (the "Company or Cannabix") announces a non-brokered private placement for a minimum of 2,127,659 units (the "Units") of the Company at a price of C$0.47 per Unit for aggregate gross proceeds to the Company of $1,000,000 and up to a maximum of 4,255,319 Units for aggregate gross proceeds of $2,000,000 (the "Offering").
The Offering, using the listed issuer financing exemption under Part 5A of NI 45-106 (the "Exemption"), is scheduled to close on or about November 25, 2025 (the "Closing Date") and completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange ("CSE").
The Company plans to use the net proceeds of this financing to fund manufacturing, inventory and product marketing, general and administrative expenses (which will include funds for investor relations), and working capital purposes.
Private Placement Terms
Each Unit will consist of one common share in the capital of the Company (a "Share") and one-half of one non-transferable common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each whole Warrant will be exercisable to acquire one Share at an exercise price of $0.60 per share for a period of 24 months from the date of issuance, subject to an acceleration right.
Acceleration Clause
If, at any time after the date of issuance of the Warrants, the closing price of the Company's Shares on the CSE (or such other stock exchange on which the Shares may be traded from time to time) is at or above C$0.75 per share for a period of 10 consecutive trading days (the "Triggering Event"), in which event the Company may, within 5 days of the Triggering Event, accelerate the expiry date of the Warrants by giving notice thereof to the holders of the Warrants, by way of news release, and in such case the Warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the Company announcing the Triggering Event and all rights of holders of such Warrants shall be terminated without any compensation to such holder.
