KELOWNA, BC – 11/4/2016 (PRESS RELEASE JET) — Laguna Blends, Inc. (CSE: LAG) (OTC: LAGBF) (Frankfurt: LB6A.F) (the “Company” or “Laguna”) is pleased to announce a second tranche closing of its it non-brokered private placement (the “Private Placement”). The second tranche closing consisted of the issuance of 5,537,800 units at a price of $0.25 per unit for gross proceeds of $1,384,450. Laguna oversubscribed the private placement for a total of $1,791,250. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.40 per warrant share for a period of twelve months.
All securities issued under the second tranche are subject to a hold period expiring four months and one day from the date of issuance. In connection with the private placement, the company paid a cash or shares finder’s fee of up to seven per cent.
Bryan Loree, CFO of Laguna Blends said, “The demand of the Laguna private placement is a testament that Laguna is working hard to deliver shareholder value. The additional capital will ensure that Laguna can continue to deliver on its business strategy.”
About Laguna Blends Inc.
Laguna is engaged in development, sales, marketing and distribution of hemp based products and solutions. We specialize in identifying emerging trends and opportunities such as Cannabidiol (CBD), one of the most useful compounds found in the hemp plant.
Laguna generates retail sales through a proprietary, online, social media platform, driven by affiliates. Laguna currently markets products in the USA and Canada. In addition, Laguna is seeking joint ventures, acquisitions and wholesale distribution opportunities in the hemp and CBD industry. Laguna is planning an aggressive international expansion into Asia and Europe in 2017. Laguna offers both hemp and CBD related products.
Laguna is currently seeking joint ventures and acquisitions to expand its portfolio and will aggressively begin international expansion into Asia and Europe in 2017.
ON BEHALF OF THE BOARD
Chief Executive Officer
Howe & Bay
Suite 600 – 535 Howe St.
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This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release. None of the statements contained in this news release are health claims and the FDA has not evaluated these claims. Laguna’s products and proposed products are not intended to diagnose, treat, cure or prevent any disease.
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Company Name: Laguna Blends Inc.
Contact Person: Stuart Gray