Vancouver, BC, April 5, 2019 – Orion Nutraceuticals Inc., (CSE: ORI) (the “Company” or “Orion”) announces the resignation of Marcelin O’Neill from her position as CCO and as a director of the Company. Replacing her on the board of directors will be current CFO, Chris Cherry. The Company has engaged “Take It Public Services Inc.” to handle its corporate compliance services.

The Company has arranged a private placement of up to 544,000 units at prices of $0.25 per unit for gross proceeds of up to $136,000, under prospectus exemptions available under applicable securities legislation to various purchasers. Each unit will consist of one common share and one transferable common share purchase warrant. Each Warrant entitles the Holder to purchase one common share of the Issuer, at a price of CDN$0.50 per Warrant Share, subject to an accelerated expiry if the closing trading price of the Company’s shares is greater than $0.70 per share for a period of 10 consecutive trading days.

The private placement is subject to the approval of the CSE and the securities will be subject to a four-month hold period under securities laws.  The Company intends to use the net proceeds from the private placement to execute the Company’s general working capital purposes.

The Company has engaged “Level2Media Inc” to execute strategic investor relations and digital media services for $30,000 per month for a total of four months. The fee is to be payable in common shares of Orion Nutraceuticals, subject to the Company’s filing requirements with the Canadian Securities Exchange and applicable securities laws.

About Orion Nutraceuticals Inc.
Orion Nutraceuticals Inc. aims to set a new standard in cannabis life science by producing and developing innovative products with key strategic partners in the industry. In conjunction with its professional sports strategic alliances, the company is poised to advance research and development in the plant science sector, deliver science-based products and services, and market CBD therapies to the mainstream with proprietary brands and products. Orion shares trade in Canada on the CSE under the symbol ORI.

 

ON BEHALF OF THE BOARD
Jonathan Fiteni, CEO
Orion Nutraceuticals Inc.
www.orionnutra.ca

Investor Relations
1.604.313.2768
investors@orionnutra.ca