HTC Announces Repricing of Private Placement

REGINA, Sept. 27, 2019 /CNW/ - HTC Extraction Systems (also the "Company" and/or "HTC") (HTC: TSX-V) announces that it has repriced its "bought deal" brokered private placement initially announced on July 3, 2019 (the "Offering"). The private placement is being re-priced to more accurately reflect the current market price of the Company's common shares (the "Common Shares").

Under the terms of the Offering, Canaccord Genuity Corp. will act as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters (collectively, the "Underwriters"), and purchase, on a "bought deal" private placement basis, 20,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit (the "Offering Price") for aggregate gross proceeds of C$10,000,000.

Each Unit will consist of one Common Share in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (a "Warrant Share") at an exercise price of C$0.70 per Warrant Share for a period of 36 months from the closing of the Offering.

All securities issued or issuable under the Offering will be subject to a statutory hold period lasting four months and one day following the closing of the Offering.

The repriced Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the conditional approval of the TSX Venture Exchange. The Offering is expected to close on or about October 8, 2019.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

HTC corporate developments can be followed on www.htcextraction.com and is traded under the symbol HTC

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended and may not be offered or sold In the United States or to, or for the account of benefit of, US persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward- looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of HTC. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Corporation to close the Offering, if at all and the timing and ability of the Corporation to satisfy the listing conditions of the TSX Venture Exchange.

Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by HTC and described in the forward-looking information contained in this press release.

Although HTC believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

SOURCE HTC Extraction Systems

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