SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H)  is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement for aggregate gross proceeds of $1,134,500.25.  The second tranche of the Private Placement consisted of the issuance of 1,745,385 units of the Company at a price of $0.65 per Unit. Including the first tranche of the Private Placement, the Company issued a total of 11,523,848 Units for deemed aggregate gross proceeds of $7,490,501.20.

Each Unit consists of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire an additional Common Share at a price of $1.00 for a period of 24 months from closing. 

In connection with the completion of the second tranche of the Private Placement, the Company paid cash finders fees of $56,225 and issued 86,500 non-transferable broker warrants.  Each Broker Warrant entitles the holder to acquire one Common Share at an exercise price of $0.65 per share for a period of 24 months following closing.

The securities issued by the Company under the second tranche of the Private Placement are subject to restrictions on resale in accordance with applicable securities laws. These restrictions will expire on August 26, 2019.  The Private Placement is subject to final acceptance by the Canadian Securities Exchange.

About SpeakEasy Cannabis Club Ltd.:

SpeakEasy is a late stage applicant under the Access to Cannabis for Medical Purposes Regulations  that is seeking to leverage three generations of farming experience in B.C. to produce high quality, small batch cannabis products once it obtains a license to do so.   The Company currently owns 290 acres of land in Rock Creek, British Columbia. The Company’s 10,000 square foot indoor facility will allow for the growth, production, and cultivation of small batch cannabis if and when the Company obtains a license from Health Canada. Construction has also commenced on an 80,000 square foot expansion facility.   Completion for the expansion is projected for Q2 2019.