Trichome Financial to Commence Lending to U.S. Cannabis Sector
- Receives conditional approval to list common shares on the CSE
TORONTO, Nov. 26, 2019 /CNW/ - Trichome Financial Corp. (formerly 22 Capital Corp.) (the "Company" or "Trichome Financial") (TSXV: TFC) is pleased to announce it has received conditional approval to list its common shares on the Canadian Securities Exchange (the "CSE"). Successful listing on the CSE will allow the Company to expand its addressable market for credit solutions to include the cannabis sector in the United States.
"Since inception, Trichome Financial has viewed the cannabis credit opportunity in a global context and having the ability to transact in the largest cannabis market in the world is a natural next step for the Company," said Michael Ruscetta, Chief Executive Officer. "Having built the core of our infrastructure and refined our due diligence process, our team believes that it can leverage its business model to address the need for credit in the United States and capitalize on the unique relationships and insights in that market by virtue of the experience of our founding and largest shareholder Origin House (CSE: OH). The volatility of equity markets has resulted in a growing pipeline for Trichome Financial, with high quality operators seeing the value in solution-driven credit products and providing us the terms and security we require to deliver attractive returns to our shareholders. We expect that entry into the United States will materially increase the number of actionable opportunities and further entrench Trichome Financial as a leader in creative and flexible credit solutions to the cannabis sector."
No specific loan into the U.S. cannabis market is currently pending. The Company is now evaluating opportunities in Canada, the United States, and other jurisdictions. No loan to any company operating in the United States cannabis market will be made while the Company's common shares trade on the TSX Venture Exchange.
CSE listing details
In accordance with the requirements of listing on the CSE, Trichome Financial will file a Listing Statement, which will be available on sedar.com. Final approval for the listing by the CSE is expected in the first week of December 2019. The Company's common shares will continue to trade under the ticker "TFC" and no action is required by current shareholders to trade their shares on the CSE.
Trichome Financial intends to apply to delist its common shares from the TSX Venture Exchange. Delisting of the common shares is subject to approval of the TSX Venture Exchange.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on providing flexible and creative credit solutions to the global legal cannabis market. Trichome Financial was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Founded by industry leaders Origin House and Stoic Advisory, Trichome Financial's experienced management team has a unique edge to capitalize on proprietary deal flow and industry insight while developing a first mover advantage as a global cannabis focused specialty finance company. Trichome Financial provides customized financing solutions across the industry value chain to support growth, capital expenditures, mergers, acquisitions, working capital and other needs. Leveraging the combined resources and knowledge of its founders, it is able to offer significant value-added financial, product, market and operational support to its partner companies. Trichome Financial's current assets are all based in Canada and it currently has no operations or assets in the United States.
For further information about Trichome Financial please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome Financial and 22 Capital dated May 29, 2019 which is available on the Company's SEDAR profile at www.sedar.com.
READER ADVISORY
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: any lending or other activities into the United States, the Company receiving final approval from the CSE, the commencement of trading of the common shares on the CSE, and the delisting of the common shares from the TSX Venture Exchange. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; any developments in the U.S. cannabis market; and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements 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 the forward-looking statements and information contained in this news release. Except as required by law, Trichome Financial assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to United States Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Trichome Financial Corp.
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