151
True Leaf Medicin
International Ltd.
(CSE:MJ) (FSE:TLA) (OTCQB:TRLFF)
True Leaf Medicine continues to await their license application to produce medical marijuana under Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR), and recently announced the finalization of their purchase of 40 acres of land encompassing the site of their Lumby, BC facility. Its True Leaf Pet hemp-based nutritional treats for pets have entered the Canadian, US and European natural pet product market with a product line consisting of hump functional chews and supplemental food products for pets. In addition, the company expanded its pet product offering by acquiring OregaPet and their established line of natural remedy products and significantly boost its in-store presence. Its six-month ended revenues were approximately $762,000 in fiscal year 2017, and recently closed financing of approximately $14 million using predominantly, a progressive and very retail investor friendly crowdsourcing that “give the people who love our products, and share in our vision and values, the chance to own a piece of True Leaf” as stated by the company’s Founder and CEO Darcy Bomford. According to its press release, in the Regulation A+ offering, True Leaf offered a total of 14,285,715 common shares at a price of C$0.70 per share, with a minimum subscription amount of C$350 (or 500 shares) per investor. The use of Regulation A+ allowed the Company to offer and sell its common shares to public retail investors as well as traditional accredited and institutional investors. True Leaf is the first Canadian-listed company to conduct a successful Regulation A+ offering.