WeedMD $WMD Announces Acceleration of Expiry Date of Outstanding Warrants


WeedMD Inc. a federally-licensed producer and distributor of medical cannabis, is pleased to confirm that the Company has elected to accelerate the expiry date of 6,488,230 outstanding warrants issued on November 8, 2016. Each Warrant may be exercised to acquire one common share of WeedMD at an exercise price of $0.80, for gross proceeds to WeedMD of up to $5,190,584 million if all Warrants are exercised. As at December 4, 2017 8,400,256 warrants have been exercised for gross proceeds to WeedMD of $6,720,205.

Under the terms of the Warrants, WeedMD is permitted to accelerate the expiry date of the Warrants if the volume weighted average trading price of the Common Shares on the TSX Venture Exchange is greater than $1.20 for a period of 20 consecutive trading days. WeedMD is pleased to confirm that an Acceleration Event occurred as of December 4, 2017. Accordingly, WeedMD has chosen to accelerate the expiry time of the Warrants to 5 p.m. on January 8, 2018.

Notice of the Accelerated Expiry will be given to the warrant agent and all registered holders of Warrants effective today, in accordance with the terms of the warrant indenture.