SPEAKEASY ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, B.C. – Speakeasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or  “SpeakEasy”) a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act is pleased to announce a non-brokered private placement of up to 8,000,000 units of the Company (the  “Units”) at a price of $0.50 per Unit for aggregate gross proceeds of up to $4,000,000 (the “Offering”). It  is expected that this financing will be fully-subscribed.

Each Unit will consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to acquire  an additional Common Share at a price of $0.70 for a period of 36 months from the closing of the Offering. The Units will be made available by way of prospectus exemptions in Canada, and in such other  jurisdictions as the Company may determine and where the Units can be issued on a private placement  basis, exempt from any prospectus, registration or other similar requirements.

In connection with the Offering, eligible finders will be entitled to receive a cash fee equal to up to 6% of  the number of Units sold under the Offering as well as finder warrants (the “Finder Warrants”) entitling  the holder to acquire such number of Common Shares equal to 6% of the Units sold under the Offering at  an exercise price of $0.70 per Common Share for a period of 36 months following the date of issuance.

It is anticipated that the proceeds of the Offering will be used for working capital, general corporate  purposes and the completion of our additional indoor grow facilities.

Founder Marc Geen states, “completing our indoor production facilities is now possible with this latest investment from our incredible shareholders, thank you to all who were able to participate. With our indoor flower now in BC and Alberta dispensaries, being well received and completely sold out, the demand for our product far outstrips our current ability to produce. We have always stuck to the concept that producing a high-quality product at a reasonable price will create space on the shelves. Now, with the strong demand for our product, and the sale of all our available indoor flower, the concept provesto be true. We will be using these funds to increase our indoor production from roughly 200 kilograms per month to approximately 1,500 kilograms per month once the expansion is completed in the second quarter of this year. Further, we look forward to reporting the proceeds from these sales in our upcoming quarterly reports. We will also be increasing our pre-roll and packaging lines for products created from our flower produced both indoor and outdoor. Transitioning into the sales and marketing of our product has been exciting and successful, I am excited to be able to update everyone soon about the results of our efforts.”

Closing of the Offering is expected to occur on or about February 16, 2021 and is subject to regulatory  approval, including that of the Canadian Securities Exchange.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

About SpeakEasy Cannabis Club Ltd.: 

SpeakEasy Cannabis Club Ltd. holds a cultivation, processing and amended sales licence issued by Health  Canada under the Cannabis Act. SpeakEasy owns 290 acres of land in Rock Creek, British Columbia, and  leverages five generations of farming experience in B.C. as well as its favourable location to grow and  process high-quality cannabis products at low cost. SpeakEasy cultivates small batch, high quality craft  cannabis at scale in its 63,200 square foot indoor cannabis complex and has successfully completed its  first harvest of its 60-acre outdoor field.

On Behalf of the Board 

Malcolm Davidson, CEO

[email protected]

1-604-218-9797

Statement Regarding Forward-Looking Information 

This news release contains statements that constitute “forward-looking statements.” Such forward  looking statements involve known and unknown risks, uncertainties and other factors that may cause  SpeakEasy’s actual results, performance or achievements, or developments in the industry to differ  materially from the anticipated results, performance or achievements expressed or implied by such  forward-looking statements. Forward looking statements are statements that are not historical facts and  are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,”  “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,”  “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning SpeakEasy’s intent to  complete the Offering, the expectation that the Offering will be fully subscribed, the anticipated use of  proceeds from the Offering, its intent to produce and sell high quality craft cannabis and all other  statements that are not statements of historical fact.

Although SpeakEasy believes the forward-looking information contained in this news release is reasonable  based on information available on the date hereof, by their nature forward-looking statements involve  known and unknown risks, uncertainties and other factors which may cause our actual results,  performance or achievements, or other future events, to be materially different from any future results,  performance or achievements expressed or implied by such forward-looking statements. By their nature,  these statements involve a variety of assumptions, known and unknown risks and uncertainties and other  factors, which may cause actual results, levels of activity and achievements to differ materially from those  expressed or implied by such statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and  uncertainties associated with general economic conditions; COVID-19, adverse industry events; future  legislative and regulatory developments involving cannabis; the Company’s ability to access sufficient  capital from internal and external sources, and/or inability to access sufficient capital on favorable terms;  the cannabis industry in Canada and generally; the ability of SpeakEasy to implement its business  strategies; competition; the ability of SpeakEasy to obtain all applicable licenses, including those from  Health Canada, and other assumptions, risks and uncertainties.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE  EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS  SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON  FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY  OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS  INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE  LAWS. 

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

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