FOUNTAIN ASSET CORP.’S INVESTEE COMPANY, THE HYDROPOTHECARY CORPORATION, CLOSES A $15 MILLION FINANCING AND SIGNS DEFINITIVE AGREEMENT WITH BFK CAPITAL CORP.December 22, 2016
Toronto, Canada – Fountain Asset Corp. (FA:TSXV) (“Fountain”) announces that its client company, The Hydropothecary Corporation (“THC”), has closed a $15 million equity raise at a price of $4.50 per share.
Based in Gatineau Quebec, The Hydropothecary Corporation is licensed for the cultivation and sale of dried marijuana by the MMPR, Marihuana for Medical Purposes Regulations, and the only Quebec licensed company. Product innovation, high quality, and customer service are the top priorities for THC, and as such they are well positioned to continue to grow within the medical marijuana market, as well as the upcoming Canadian recreational market.
THC also signed a definitive agreement with BFK Capital Corp. In a press release issued on November 18, 2016, THC announced that it had entered into a non-binding letter of intent with BFK Capital Corp. (BFK-P.V) ("BFK"), a Capital Pool Company, to complete a business combination (the "Transaction"). BFK is a company existing under the laws of Ontario, a reporting issuer in British Columbia, Alberta and Ontario, and a Capital Pool Company listed on the TSX Venture Exchange (the "Exchange"). BFK has not commenced commercial operations and has no assets other than cash. If completed, the Transaction will constitute BFK`s Qualifying Transaction pursuant to the policies of the Exchange.
About The Hydropothecary Corporation
For further information, please contact Sebastien St-Louis, Co-founder and C.E.O. at 613-293-4515 or visit THC’s website at www.thehydropothecary.ca and follow at Twitter.com/Hydropothecary
About Fountain Asset Corp.
Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Fountain Asset Corp.’s website at www.fountainassetcorp.com .