Tidal Royalty Corp. Commences Trading on Canadian Securities Exchange & Adds Industry Leaders to its Advisory Boar
Toronto, Ontario--(Newsfile Corp. - June 25, 2018) - Tidal Royalty Corporation (CSE: RLTY) (“Tidal Royalty” or “the Company”), a leading provider of royalty financing to the U.S. regulated cannabis industry, will begin trading today on the Canadian Securities Exchange under the ticker symbol “RLTY”.
Tidal Royalty provides expansion financing to licensed U.S. operators across multiple verticals, including cultivation, processing and manufacturing, dispensing, and ancillary services. The company was founded in August 2017 by experienced cannabis industry executives, including CEO and Chairman Paul Rosen. Mr. Rosen, the co-founder and former CEO of PharmaCan Capital, now operating as The Cronos Group (NASDAQ:CRON), stated: “The market opportunity in U.S. regulated cannabis is significant and, in many respects, is reminiscent of the early-stage investment opportunities in Canada in 2012 that we were able to capitalize upon.”
The company has raised approximately $40MM to date by way of private placements, which it intends to use primarily for royalty financings and for general corporate purposes. “The Tidal Royalty team has spent the last 11 months travelling across the U.S., meeting with licensed operators in virtually every state that has a regulated cannabis industry,” Mr. Rosen explained. “We have had discussions with over 100 prospect companies, and we have entered into 3 separate Letters of Intent to date. Our pipeline of opportunities to fund high-caliber operators across nearly a dozen key U.S. states continues to grow and we anticipate that our current efforts will lead to multiple additional agreements as discussions progress.”
Tidal Royalty intends to provide details on the specifics of each Letter of Intent when the corresponding definitive documentation is executed, the negotiation of which is on-going. Mr. Rosen further stated: “We have built a tremendous management team that I believe is uniquely qualified to prosecute the incredible opportunities that the U.S. cannabis industry offers. Our public listing will allow investors to participate in this growth industry by getting top-line exposure to best-in-class licensed operators.” Tidal Royalty directs interested stakeholders to visit its website at www.tidalroyalty.com to view the company’s Corporate Presentation for more details, and the CSE’s website to view the company’s Listing Statement.
In addition to commencing trading, Tidal Royalty announced that it has added four experienced advisors to its Advisory Board. The company will look to these advisors to provide strategic advice to management based on their extensive experience as cannabis industry leaders. The advisors added are:
Hugo Alves:Mr. Alves is the President of Auxly Cannabis Group Inc. (TSXV:XLY), formerly known as Cannabis Wheaton Income Corp. Auxly is one of the world’s first and foremost cannabis streaming companies.
Marc Lustig: Mr. Lustig is the founder and CEO of CannaRoyalty Corp. (CSE:CRZ). CannaRoyalty is a North American cannabis consumer product company currently focused on building a leading distribution business in California, the world's largest regulated cannabis market.
Joel Sherlock: Mr. Sherlock is the co-Founder of Doventi Capital Inc. and the Chairman of Vitalis Extraction Technologies. Doventi Capital is a private equity firm specializing in investment in the regulated cannabis industry in North America. Vitalis Extraction is an engineering and manufacturing company producing the highest-flowing industrial extraction systems for the cannabis industry.
Richard Brooks: Mr. Brooks is the Managing Partner of Brooks Business Lawyers. The Brooks firm provides corporate and commercial legal services to some of the fastest-growing companies in Canada across a number of industries, including cannabis.
“I have known and followed the incredible careers of each of our advisors for several years,” stated Mr. Rosen. “Individually, they are some of the brightest minds and have built some of the most respected companies in the emerging cannabis industry. Collectively, they will fortify Tidal Royalty as we execute on our business plan. We are delighted to have them as advisors and expect they will contribute considerably to our success.”
About Tidal Royalty
Tidal Royalty provides royalty financing to the U.S. regulated cannabis industry. Led by an executive team with extensive industry experience in Canada and the U.S., Tidal Royalty provides operators with the funding they need to grow their business. Operators benefit from non-dilutive capital and investors get top-line access to a diversified portfolio of companies that will form the future of this transformative industry.
For further information, please contact:
Tidal Royalty Corp.
Terry Taouss, President
+1 (416) 710-8377
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. Readers are cautioned that forward-looking information contained in this new release is not based on historical facts but instead is based on reasonable assumptions and estimates of management. Forward-looking information contained in this news release includes, but is not limited to: the ability to enter into definitive documentation in respect of letters of intent currently entered into by the company, the ability of the company to enter into additional letters of intent and associated definitive documentation with current or further proposed investee companies, the operating and financial performance of any investee company to be funded by Tidal Royalty from time to time, the ability of the company to generate revenue or realize profit through royalty agreements with any future investee companies, the anticipated use of proceeds from private placements completed by the company and the effectiveness of the company’s Advisory Board in providing strategic advice. Forward-looking information contained herein is based on the opinions and reasonable assumptions and estimates of management as at the date hereof, and is subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or results of the company to differ materially from those expressed or implied in the forward-looking information. Such factors include: U.S. regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change, risks relating to anti-money laundering laws and regulation, other governmental and environmental regulation, public opinion and perception of the cannabis industry, risks related to the enforceability of contracts, the requirement by the company to obtain additional financing, the limited operating history of the company, timeliness of government approvals for granting of permits and licences needed by any future investee companies, including licences to cultivate cannabis, the actual operating and financial performance of any future investee company may differ materially from that anticipated by the company, competition and other risks affecting the company in particular and the U.S. cannabis industry generally and the risk factors effecting the company disclosed in the listing statement of the company available at www.sedar.com. Because of such risks, uncertainties and other factors, investors should not place undue reliance on the forward-looking information contained herein. The company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. The foregoing statements expressly qualify the forward-looking information contained herein. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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