Eastwest BioScience Announces Private Placement and Changes to the Board of Directors
October 3, 2018EastWest Bioscience Pushes Boundaries to Expand Into Cannabis and CBD
October 11, 2018Harbour Star Capital Corp. dba Eastwest BioScience Inc (TSXV:EAST) (“Eastwest” or the “Company“) is pleased to announce it has closed the offering of a non-brokered private placement of $730,925.25 in units (“Units”) announced October 3, 2018, subject to TSXV approval.
The Company may pay finder’s fees on all or a portion of the private placement to eligible persons seeking subscribers to the financing, all in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange”).
The proposed private placement is subject to receipt of all necessary regulatory approvals including the approval of the Exchange. The Company confirms that, as of the date of this press release, there is no “material fact” or “material change” (as those terms are defined under applicable securities laws) related to the Company which has not been generally disclosed.
Assuming the maximum offering is completed, the net proceeds are expected to be used for strategic acquisitions, a continued build-out of the Company’s product lines and general working capital.
About EastWest BioScience Group
EastWest Bioscience is a seed-to-sale organization that offers world class manufacturing and premium hemp-based consumer goods. Since it was founded in 2016, EastWest continues to grow as a high-quality producer, manufacturer and distributor of multiple lines of premium hemp products. EastWest is strategically positioned in mainstream consumer markets with wholistic natural products and has developed distribution channels into mainstream stores and markets in Canada. The Company has a Health Canada licensed, GMP (Good Manufacturing Practices) certified manufacturing facility and produces premium brands offering natural products for a preventive care lifestyle. EastWest consumer product lines are divided into four distinct brands: 1) Natural Advancement – natural biopharmaceutical health supplements; 2) Earth’s Menu – all-natural hemp superfoods; 3) Natural Pet Science – pet food and pet supplements; and 4) Chanvre Hemp – all-natural health and beauty products. The organization will continue to focus on ongoing development of innovative, hemp-based consumer products through advanced science with clean, natural ingredients to complement its current product offerings.
ON BEHALF OF THE BOARD OF DIRECTORS EASTWEST BIOSCIENCE GROUP
“Rodney Gelineau”
Co-Founder, Chief Executive Officer and Director
For investor information and inquiries, please contact EastWest Bioscience Corporate Communications and Investor Relations at investors@eastwestscience.com
Toll free: 1-800-409-1930 ext. 200