GATINEAU, ​​QC–(Marketwired – November 24, 2017) –

NOT ​​FOR ​​DISTRIBUTION ​​TO ​​U.S. ​​NEWSWIRE ​​SERVICES ​​OR ​​FOR ​​DISSEMINATION ​​IN ​​THE UNITED ​​STATES.

The ​​Hydropothecary ​​Corporation ​​(“THCX” ​​or ​​the ​​”Company”) (TSX VENTURE: THCX) ​​is ​​pleased ​​to ​​announce ​​it ​​has ​​closed ​​its ​​previously ​​disclosed ​​bought ​​deal ​​public offering ​​(the ​​”Offering”) ​​of ​​convertible ​​debenture ​​units ​​of ​​the ​​Company ​​(the ​​”Units”) ​​for ​​aggregate ​​gross proceeds ​​of ​​ ​​million. ​​The ​​Offering ​​was ​​underwritten ​​by ​​a ​​syndicate ​​of ​​underwriters ​​led ​​by ​​Canaccord Genuity ​​Corp. ​​and ​​including ​​Beacon ​​Securities ​​Limited, ​​Cormark ​​Securities ​​Inc., ​​Echelon ​​Wealth Partners ​​Inc., ​​Eight ​​Capital ​​and ​​PI ​​Financial ​​Corp. ​​(collectively, ​​the ​​”Underwriters”).

Under ​​the ​​Offering, ​​the ​​Company ​​issued ​​69,000 ​​Units ​​at ​​a ​​price ​​of ​​,000 ​​per ​​Unit, ​​including ​​9,000 ​​Units issued ​​pursuant ​​to ​​the ​​exercise ​​in ​​full ​​of ​​the ​​over-allotment ​​option ​​the ​​Company ​​granted ​​to ​​the Underwriters ​​in ​​connection ​​with ​​the ​​Offering. ​​Each ​​Unit ​​consists ​​of ​​,000 ​​principal ​​amount ​​of ​​7.0% unsecured ​​convertible ​​debentures ​​of ​​the ​​Company ​​(the ​​”Convertible ​​Debentures”) ​​and ​​227 ​​common ​​share purchase ​​warrants ​​(the ​​”Warrants”) ​​of ​​the ​​Company.

“With ​​this ​​new ​​financing ​​in ​​place, ​​and ​​the ​​progress ​​of ​​our ​​current ​​expansion ​​on ​​track, ​​we ​​are ​​positioned to ​​become ​​an ​​industry-leading ​​cannabis ​​products ​​company,” ​​​said ​​Sébastien ​​St-Louis, ​​Co-founder ​​and CEO. ​​​“As ​​we ​​move ​​forward, ​​our ​​shareholders ​​can ​​take ​​confidence ​​in ​​our ​​commitment ​​to ​​continuously lowering ​​our ​​production ​​costs; ​​to ​​driving ​​product ​​innovation; ​​and, ​​to ​​producing ​​quality ​​products ​​in response ​​to ​​customer ​​demand,” ​​​concluded ​​Mr. ​​St-Louis​.

​​​The ​​Convertible ​​Debentures ​​bear ​​interest ​​from ​​the ​​date ​​of ​​closing ​​at ​​7.0% ​​per ​​annum, ​​payable semiannually ​​on ​​June ​​30 ​​and ​​December ​​31 ​​of ​​each ​​year ​​and ​​will ​​mature ​​on ​​November ​​24, ​​2020. ​​The Convertible ​​Debentures ​​are ​​convertible ​​at ​​the ​​option ​​of ​​the ​​holder ​​into ​​common ​​shares ​​of ​​the ​​Company (“Common ​​Shares”) ​​at ​​any ​​time ​​prior ​​to ​​the ​​close ​​of ​​business ​​on ​​the ​​maturity ​​date ​​at ​​a ​​conversion ​​price ​​of .20 ​​per ​​share ​​(the ​​”Conversion ​​Price”). ​​The ​​Company ​​may ​​force ​​the ​​conversion ​​of ​​all ​​of ​​the ​​principal amount ​​of ​​the ​​then ​​outstanding ​​Convertible ​​Debentures ​​at ​​the ​​Conversion ​​Price ​​on ​​30 ​​days’ ​​written ​​notice should ​​the ​​daily ​​volume ​​weighted ​​average ​​trading ​​price ​​of ​​the ​​Common ​​Shares ​​be ​​greater ​​than ​​.15 ​​for any ​​10 ​​consecutive ​​trading ​​days.

Each ​​Warrant ​​is ​​exercisable ​​to ​​acquire ​​one ​​Common ​​Share ​​until ​​November ​​24, ​​2019 ​​at ​​an ​​exercise ​​price of ​​.00 ​​per ​​share, ​​subject ​​to ​​adjustment ​​in ​​certain ​​events, ​​and ​​subject ​​to ​​the ​​Company’s ​​right ​​to accelerate ​​expiry ​​of ​​the ​​Warrants ​​if ​​the ​​closing ​​trading ​​price ​​of ​​the ​​Common ​​Shares ​​equals ​​or ​​exceeds .50 ​​for ​​any ​​10 ​​consecutive ​​trading ​​days.

The ​​Units ​​were ​​offered ​​for ​​sale ​​in ​​each ​​of ​​the ​​provinces ​​and ​​territories ​​of Canada ​​by ​​short ​​form prospectus, ​​and ​​in ​​jurisdictions ​​outside ​​of Canada including the ​​United ​​States on ​​a ​​private ​​placement basis ​​exempt ​​from ​​any ​​prospectus, ​​registration ​​or ​​other ​​similar ​​requirements.

The ​​net ​​proceeds ​​from ​​the ​​Offering ​​are ​​expected ​​to ​​be ​​used ​​to ​​further ​​expand ​​and ​​increase ​​the ​​Company’s production ​​capacity ​​and ​​expedite ​​the ​​development ​​of ​​the ​​Company’s ​​innovative ​​product ​​lines ​​in preparation ​​for ​​eventual ​​adult ​​recreational ​​use ​​in ​​Canada. ​​Additional ​​information ​​on ​​the ​​expected ​​use ​​of the ​​net ​​proceeds ​​from ​​the ​​Offering ​​is ​​disclosed ​​in ​​the ​​short ​​form ​​prospectus.

The ​​Offering ​​is ​​subject ​​to ​​final ​​acceptance ​​of ​​the ​​TSX ​​Venture ​​Exchange ​​(“TSXV​”). ​​​The ​​TSXV ​​has conditionally ​​accepted ​​the ​​Offering ​​and ​​the ​​listing ​​of ​​the ​​Convertible ​​Debentures. ​​Subject ​​to ​​the ​​Company fulfilling ​​the ​​listing ​​requirements ​​of ​​the ​​TSXV, ​​it ​​is ​​expected ​​that ​​the ​​Convertible ​​Debentures ​​will commence ​​trading ​​on ​​the ​​TSXV ​​at ​​market ​​open ​​on ​​Monday, ​​November ​​27, ​​2017.

THCX ​​also ​​wishes ​​to ​​announce ​​that ​​.6 ​​million ​​principal ​​amount ​​of ​​the ​​Company’s ​​.1 ​​million aggregate ​​principal ​​amount ​​of ​​8% ​​unsecured ​​convertible ​​debentures ​​due ​​June ​​30, ​​2019 ​​(the ​​”Existing Debentures”) ​​have ​​to ​​date ​​been ​​tendered ​​for ​​conversion ​​into ​​Common ​​Shares. ​​The ​​Existing ​​Debentures are ​​convertible ​​at ​​the ​​option ​​of ​​the ​​holder ​​into ​​Common ​​Shares ​​at ​​a ​​conversion ​​price ​​of ​​.60 ​​per ​​share. As ​​previously ​​disclosed ​​by ​​THCX, ​​the ​​Company ​​has ​​exercised ​​its ​​forced ​​conversion ​​right ​​in ​​respect ​​of the ​​Existing ​​Debentures ​​and ​​any ​​outstanding ​​Existing ​​Debentures ​​will ​​be ​​converted ​​into ​​Common ​​Shares on ​​December ​​27, ​​2017.

About ​​The ​​Hydropothecary ​​Corporation

The ​​Hydropothecary ​​Corporation ​​is ​​an ​​authorized ​​licensed ​​producer ​​and ​​distributor ​​of ​​medical ​​cannabis licensed ​​by ​​Health ​​Canada ​​under ​​the ​​Access ​​to ​​Cannabis ​​for ​​Medical ​​Purposes ​​Regulations ​​(Canada). Hydropothecary ​​provides ​​naturally ​​grown ​​and ​​rigorously ​​tested ​​medical ​​cannabis ​​of ​​uncompromising quality. ​​Hydropothecary’s ​​branding, ​​cannabis ​​product ​​offering, ​​patient ​​service ​​standards ​​and ​​product pricing ​​are ​​consistent ​​with ​​Hydropothecary’s ​​positioning ​​as ​​a ​​premium ​​brand ​​for ​​a ​​legal ​​source ​​for medical ​​cannabis ​​within ​​this ​​new ​​marketplace. ​​In ​​addition ​​to ​​medical ​​cannabis ​​production ​​and ​​sales, Hydropothecary ​​explores ​​various ​​research ​​and ​​development ​​opportunities ​​for ​​cannabinoid ​​extracts, ​​drugs and ​​combinatory ​​chemistry. ​​In ​​addition, ​​the ​​company ​​is ​​investigating ​​the ​​development ​​and ​​patenting ​​of novel ​​technologies ​​related ​​to ​​medical ​​cannabis, ​​as ​​well ​​as ​​the ​​import ​​and ​​export ​​of ​​medical ​​cannabis.

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 ​​this ​​release.