Toronto, Ontario--(Newsfile Corp. - August 9, 2017) - Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTC Pink: GNPWF), (FSE: YS6N), ("Gunpowder" or the "Corporation") announced today that Meryllion Resources Corp., (CSE: MYR), ("Meryllion") has retained Gunpowder to act as advisor to Meryllion for their proposed business combination with Thunderhawk Cannabis Ltd., ("Thunderhawk").
Thunderhawk is currently controlled by Principals who are long standing residents of Listuguj, a Mi'gmaq Indigenous community located in the southwestern part of the Gaspe Peninsula. Thunderhawk is in the process of developing a cannabis related commercial enterprise with the initial primary purpose of operating a retail cannabis storefront (a 'Dispensary') in Listuguj that will distribute cannabis products in accordance with applicable laws.
Gunpowder will earn a success fee upon completion of Meryllion's proposed business combination with Thunderhawk, the terms of which will be disclosed upon completion for confidentially reasons.
Gunpowder is also please to announce that it has invested Fifty Thousand Dollars ("$50,000.00") CDN in Meryllion's recent private placement. Meryllion recently raised Two Hundred and Ten Thousand Dollars ("$210,000.00") CDN to complete its proposed business combination with Thunderhawk.
Gunpowder received Two Million ("2,000,000") Units at a purchase price of Two and a Half Cents ("$0.025) CDN per Unit. Each Unit that Gunpowder purchased is comprised of one common share of Meryllion, and one half common share purchase warrant. Each whole warrant entitles Gunpowder to acquire one common share of Meryllion for $0.05 for a period of 18 months from the closing date. All common shares issued in connection with this placement will be subject to a four month plus one day hold period under applicable Canadian securities laws.
Mr. Paul Haber stated: "We are pleased that Gunpowder was able to win this mandate. It is gratifying to see that we are beginning to establish ourselves as the go to adviser to assist small cap companies with their go public needs."
For further information please contact
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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