Canadian International Pharma Corp. Announces Closing of Non-brokered Private Placement
CANADIAN INTERNATIONAL PHARMA CORP.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Trading symbol: TSX-V – NEX: CIP.H
Canadian International Pharma Corp. Announces Closing of Non-brokered Private Placement
Vancouver, British Columbia – December 2, 2020 – Canadian International Pharma Corp.
(the “Company”) announces that, further to its News Release of November 4, 2020, it has completed its
private placement financing (the “ Financing”), whereby the Company issu ed 6,250,000 subscription
receipts (each, a “ Subscription Receipt ”) at a price of $0.105 per Subscription Receipt for aggregate
proceeds of $656,250.
Each Subscription Receipt entitles the holder to acquir e, for no additional consideration, one unit (each, a
“Unit”) consisting of one Share of the Company and one transferable share purchase warrant (each, a
“Warrant”) upon TSX Venture Exchange approval for the option agreement (the “ Option Agreement”)
with Longford Capital Corp. and the Financing (the “ Release Condition”). Each Warrant shall entitle the
holder thereof to acquire one Share (each, a “ Warrant Share”) for a period of five years from the date of
issuance thereof at a price of $0.14 per Warrant Share.
The Subscription Receipts will be converted into Units on the date the Release Condition is satisfied. The
proceeds of the Financing will be held in trust and w ill not be released to the Company until the Release
Condition has been satisfied. If the Release Conditio n is not satisfied on or be fore January 15, 2021, the
proceeds of the Financing will be returned to su bscribers without interest or penalty, and the
Subscription Receipts will be cancelled.
The proceeds of the Financing are expected to be used for general working capital and for the
expenditures under the Option Agreement.
All securities issued in connection with the Financing are subject to a statutory hold period expiring four
months and one day after closing of the Financing.
An insider of the Company acquired an aggregate of 370,000 Subscription Receipts in the Financing
which constituted a related party transaction under Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions (“ MI 61-101 ” ) . T h e i s s u a n c e t o t h e i n s i d e r i s e x e m p t f r o m t h e
valuation requirement of MI 61-101 by the virtue of the exemption contained in section 5.5(b) as the
Company’s shares are not listed on a specified mark et and from the minority shareholder approval
requirements of MI 61-101 by virtue of the exemptio n contained in Section 5.7(1)(a) as the value of the
Subscription Receipts did not exceed 25% of the Company’s market capitalization.
None of the securities sold in connection with th e Financing are registered under the United States
Securities Act of 1933, as amended, and no such secu rities may be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For further information, contact Ron Schmitz at 604.685.7450.
CANADIAN INTERNATIONAL PHARMA CORP.
“Ron Schmitz”
Ron Schmitz, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.