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CALGARY, June 12, 2018 /CNW/ - Aldershot Resources
Ltd. ("Aldershot" or
the "Company") (TSXV: ALZ) is pleased to announce that, as a
result of excess institutional demand, the Company has increased
the size of its previously announced private placement of common
shares and units of the Company from $20.0
million to $25.0 million (the
"Private Placement"). In all other respects, the terms of
the Private Placement will remain as previously disclosed.
The net proceeds from the Private Placement will be used by the
Company to establish and launch a retail cannabis business in
Western Canada. The new management team expects to execute
its strategy by capitalizing on its collective experience in the
following areas: (i) controlled substance retail market; (ii) an
understanding of consumer purchasing habits and provincial
demographics from historical data; (iii) leveraging existing
relationships with landlords, municipalities and regulators; (iv)
expertise tailoring product brands and retail experience; and (v)
operational know-how including store sizing, site development,
inventory management, staffing, training and cost structure.
About Aldershot Resources Ltd.
Upon completion of the Private Placement, the Company will
execute a new retail-focused cannabis business strategy.
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements
including opinions, assumptions, estimates, the new management
team's assessment of future plans and operations, and, more
particularly, statements concerning the completion of the Private
Placement, the business plan of the new management team, including
future retail cannabis locations and use of proceeds following
completion of the Private Placement. When used in this
document, the words "will," "anticipate," "believe," "estimate,"
"expect," "intent," "may," "project," "should," and similar
expressions are intended to be among the statements that identify
forward-looking statements. The forward-looking statements are
founded on the basis of expectations and assumptions made by
Aldershot which include, but are
not limited to, the timing of the receipt of the required
regulatory and third party approvals, the future operations of, and
transactions completed by Aldershot as well as the satisfaction of other
conditions pertaining to the completion of the Private
Placement. Forward-looking statements are subject to a wide
range of risks and uncertainties, and although Aldershot believes that the expectations
represented by such forward-looking statements are reasonable,
there can be no assurance that such expectations will be
realized. Any number of important factors could cause actual
results to differ materially from those in the forward-looking
statements including, but not limited to, regulatory and third
party approvals not being obtained in the manner or timing
anticipated by Aldershot, changes
to cannabis laws, the timing of the legalization of recreational
cannabis, the availability of cannabis-retail products from
licensed producers, the ability to implement corporate strategies,
the state of domestic capital markets, the ability to obtain
financing, changes in general market conditions and other factors
more fully described from time to time in the reports and filings
made by Aldershot with securities
regulatory authorities. Except as required by applicable laws,
Aldershot does not undertake any
obligation to publicly update or revise any forward-looking
statements.
Completion of the Private Placement is subject to a number of
conditions, including but not limited to, TSXV acceptance. There
can be no assurance that the Private Placement will be completed as
proposed or at all. Trading in the securities of
Aldershot should be
considered highly speculative.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Aldershot Resources Ltd.