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True Leaf Medicine International raises C$1 million in capital from exercising warrants

CEO Darcy Bomford says the capital infusion will help the company expand operations globally, among other uses

True Leaf product
True Leaf is eyeing new markets in the Asia Pacific region and Australia

True Leaf Medicine International Ltd (CSE:MJ) (OTCMKTS:TRLFF) said Thursday that it received nearly C$1 million from exercising warrants.

The Vernon, British Columbia-based cannabis and hemp wellness brand for pets said it exercised more than 2.5 million warrants at a strike price of C$0.355 to raise C$914,422. The warrants were set to expire on April 21. 

CEO Darcy Bomford said the capital infusion will help the company expand operations globally, among other uses.

READ: True Leaf Medicine grows footprint with new brand identity, expands pet product line

“This additional capital will strengthen our balance sheet and allow us to continue to execute on our growth plans, including bringing a legally-compliant CBD product for pets to market and expanding our global distribution, including entering new markets in the Asia Pacific region and Australia,” he said in a statement. 

True Leaf’s products include advanced formulas of its hemp-based Calming Support and Hip + Joint Support chews and oil supplements. The company’s proprietary formulations combine therapeutic hemp with ingredients such as Omega-3, DHA and EPA from seafood and plants.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @patrickmgraham

Quick facts: True Leaf Brands Inc.

Price: 0.64 CAD

CSE:MJ
Market: CSE
Market Cap: $18.43 m
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