SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) is pleased to announce that it has closed its previously announced non-brokered private placement.  The Company issued 3,863,804 units at a price of $0.60 per Unit for aggregate gross proceeds of approximately $2,318,000.  Each Unit consists of one common share in the capital of the Company  and one-half of a Common Share purchase warrant. Each Warrant entitles the holder to acquire an additional Common Share at a price of $1.00 for a period of 24 months from the closing of the Private Placement.

In connection with the closing of the Private Placement, the Company paid aggregate finder’s fees of approximately $143,188.47 and issued an aggregate of 238,648 finders warrants  to eligible finders.  Each Finders Warrant entitles the holder to purchase one Common Share at a price of $1.00 for a period of 24 months from the closing of the Private Placement.

The securities issued by the Company under the Private Placement are subject to restrictions on resale in accordance with applicable securities laws.  These restrictions will expire on January 28, 2019.  The Private Placement is subject to final acceptance by the Canadian Securities Exchange.

SpeakEasy intends to use the net proceeds from the Private Placement for working capital and general corporate purposes.

Certain insiders of the Company participated in the Private Placement. Participation of insiders of the Company in the Private Placement constitutes a related party transaction as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions Because the Common Shares trade only on the CSE, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101. The Company did not file a material change report 21 days prior to the closing of the private placement as the details of the participation of insiders of the Company had not been confirmed at that time.

About SpeakEasy Cannabis Club Ltd.:

SpeakEasy Cannabis Club 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 fall/winter 2018.