Beleave Closes $9.95 Million Non-Brokered Private Placement of Units

TORONTO, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Beleave Inc. ("Beleave" or the "Company") (CSE:BE) (OTCQX:BLEVF) is pleased to announce the completion of a non-brokered private placement (the "Non-Brokered Offering") of units of the Company at a price of $1.50 per unit for aggregate gross proceeds of approximately $9.95 million.

Each unit issued is comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $2.00 for a period of 24 months from the date of issuance of the Warrant, subject to accelerated expiry in the event that the ten-day volume weighted average price of the Common Shares on the Canadian Securities Exchange (the "CSE"), or other exchange or quotation system where the Company's shares are listed and where a majority of the trading volume of the Common Shares occurs, equals or exceeds $3.00.

The proceeds from the Non-Brokered Offering will be used to continue the expansion of the Company’s production facility and for general corporate purposes.

About Beleave
Beleave Inc. is a biotech company and Beleave's wholly-owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave's purpose-built facility is located in Hamilton, Ontario.