Syd Financial Amends Private Placement Terms
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
CW14226153.6
SYD FINANCIAL INC.
303 – 570 Granville Street
Vancouver, BC V6C 3P1
FOR IMMEDIATE RELEASE October 25, 2019
SYD FINANCIAL INC. AMENDS PRIVATE PLACEMENT TERMS
Vancouver, B.C. – Syd Financial Inc. (the “Company” or “Syd”) (CSE: SYDF) announces that, pursuant to
an amendment (the “Amendment”) of the definitive business combination agreement with Santa Marta
Life Sciences Corp. (“ Santa Marta ”), the Company has ame nded its private placement previously
announced on September 10, 2019, from a subscription receipt offering to both a subscription receipt and
unit offering. On or before January 3 0, 2020 , the Company will complete a non-brokered private
placement (the “Private Placement”) for aggregate gross proceeds of no less than $6,000,000 at a price
of $0.125 per unit or subscription receipt (each, a "Unit" or a “Subscription Receipt”, as the case may be).
Each Unit or Subscription Receipt, as applicable, will be convertible into one pre-consolidated common
share of the Company and one pre-consolidated warrant to purchase one additional common share of
the Company exercisable at $0.375 for a period of two years, subject to acceleration and forced exercise
provisions if the shares of the C ompany trade at or above $0.85 per post -consolidation share for 20
consecutive trading days. The Company may pay finders’ fees to registrants of 8% in cash and 8% in broker
warrants on funds raised in the Private Placement. The Amendment has also extended the completion
dates for the proposed transaction with Santa Marta until January 31, 2020.
About Santa Marta
Santa Marta specializes in creating high -quality CBD & THC oils for distribution in the global medical
marketplace. Santa Marta has secured a 25-year lease on 34.5 hectares of agricultural land in Colombia,
as well as two cannabis licenses from the Colombian government. Santa Marta has secured letters of
intent with distributors for distribution in the EU, Canada, Mexico, and Colombia, subject to compliance
with all local laws.
SYD Financial Inc.
On behalf of the Board of Directors,
“Keith Anderson”
Keith Anderson, CEO, Secretary and Director, Syd Financial Inc.
For further information on the Company, please email [email protected]
Keith Anderson
Syd Financial Inc.
(604) 786-7774
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has in no way passed upon the merits
of the proposed Transaction and has neither approved nor disapproved of the contents of this press
release.
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Disclaimer for Forward-Looking Information
Certain statements in this press release are forward -looking statements and are prospective in nature.
Forward-looking statements ar e not based on historical facts, but rather on current expectations and
projections about future events, and are therefore subject to risks and uncertainties which could cause
actual results to differ materially from the future results expressed or implied by the forward -looking
statements, including: the receipt of all necessary regulatory approvals, the ability to conclude the
Transaction, capital expenditures and other costs, and financing and additional capital requirements.
These statements generally can be identified by the use of forward-looking words such as “may”, “should”,
“will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the
negative thereof or similar variations. Forward-looking statements in this news release include statements
regarding the completion of the proposed transaction with Santa Marta and the proposed Syd private
placement Unit offering . Although management of the Company has attempted to identify important
factors that could cause act ual results to differ materially from those contained in forward -looking
statements or forward -looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statement s will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward -looking statements and
forward looking information. The Comp any assumed no obligation to update any forward -looking
statements or forward-looking information that are incorporated by reference herein, except as required
by applicable securities laws.