Public Companies

Beleave Announces Increased Investment Agreement with Alumina Partners – $BE

Beleave Inc. (CSE: BE) (OTCQX: BLEVF) (“Beleave” or the “Company”) is pleased to announce it has amended its non-exclusive investment agreement with Alumina Partners, LLC, a New York-based private investment partnership, providing the availability of up to CAD $30 million (previously CAD $20 million) over a 24-month period, to take advantage of new opportunities, increase operating flexibility, and strengthen the Company’s balance sheet.

Pursuant to the terms of the amended agreement, Alumina Partners will increase its commitment to purchase up to CAD $30 million (previously CAD $20 million) units of the Company, consisting of one common share and one common share purchase warrant. The unit price will be determined within the regulatory issuance maximum discount of up to 20% (previously up to 25%) of the share price at the time of drawdown. Each offering occurring exclusively at the option of the Company throughout the term of the agreement. The exercise price of the warrants will be at a 50% premium (previously 25%) over the market price at time of issuance.

“This agreement provides compelling value and liquidity to our shareholders” said Andrew Wnek, Beleave CEO. “We’ve increased the available access to capital while securing terms that are more advantageous to Beleave.”

EXECUTIVE MANAGEMENT UPDATE
The company also announced executive management changes that will encourage increased collaboration between the Company’s expanding operations. As part of these changes, Andrew Wnek and Bojan Krasic have been appointed to new positions within the Company as they expand the scope of their responsibilities.

Andrew Wnek has been appointed as Chairman by the Board of Directors. Mr. Wnek joined the Board in December 2015 and was appointed CEO of Beleave in October 2017. His appointment as Chairman provides continuity in the newly restructured Board as it seeks to take advantage of new and developing opportunities in the evolving cannabis industry.

“We are in one of the most exciting periods of innovation and change in Canada’s history, and Beleave plays an active part in that story thanks to our relentless focus and strong leadership,” said Wnek. “I thank the Board for this appointment and look forward to working together on everything that lies ahead as we implement our growth strategy for 2019 and beyond.”

Along with Andrew Wnek’s appointment, the Company also announced that current CFO Bojan Krasic will have additional responsibilities in his newly appointed role as President and CFO of the Company. Mr. Krasic joined Beleave in early 2013 and has been integrally involved in developing the Company’s partnerships and instrumental in raising capital to fund new opportunities, increasing operating flexibility, and strengthening the Company’s balance sheet. In his expanded role, Mr. Krasic will also provide leadership to the sales, marketing, and retail teams, while providing operational oversight to the Company’s increasing production and scientific research operations.

Beleave also announced that it has granted 200,000 stock options to purchase common shares to each Mark Heselton and Mark Miles, appointed Directors of Beleave in accordance with the Company’s stock option plan. Each option is exercisable to purchase one common share of the Company at $1.75 per common share. All options vest immediately and have a five-year term.

All common share and option issuances are subject to applicable regulatory approvals (including the Canadian Securities Exchange).

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