CanBud Distribution Corporation Completed a $4,730,000 Non-brokered Private Placement

On March 8, CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) ("CanBud" or the "Corporation") announced that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the "Offering"). 

The Corporation issued a combined total of 39,409,346 units (each a "Unit") at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a "Common Share") and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the "Warrant Term"), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the "CSE") (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.

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