Final Bell Holdings International Completes Rights Offering

VANCOUVER, BC / ACCESSWIRE / September 26, 2024 / Final Bell Holdings International Ltd. ("Final Bell" or the "Company"), a premier cannabis hardware and packaging manufacturer, is pleased to announce the successful completion of its rights offering. The rights offering, which expired on September 10, 2024, resulted in the issuance of 89,261,454 Class A Subordinate Voting Shares (the "SV Shares") at US$0.015 per share, and 1,627,771 Class B Proportionate Voting Shares (the "PV Shares") at US$1.50 per share, for approximately US$3,780,600 in aggregate proceeds raised, including certain debt settlements.

Of the securities sold, 3,308,369 SV Shares and 108,725 PV Shares were issued under the basic subscription privilege, and 707,785 PV Shares under the additional subscription privilege, to insiders of the Company. The foregoing subscriptions include settlement of US$375,000 of indebtedness owing to insiders. Non-insiders of the Company purchased an aggregate of 31,000,230 SV Shares and 597,621 PV Shares under the basic subscription privilege, and 54,952,855 SV Shares and 213,640 PV Shares under the additional subscription privilege. The foregoing subscriptions include settlement of US$500,000 of indebtedness owing to non-insiders. To the knowledge of the Company, no shareholders became insiders as a result of their participation in the Rights Offering. The offering did not feature a stand-by commitment. As at the closing date, the Company has 186,202,234 SV Shares and 4,201,846 PV Shares issued and outstanding, representing an aggregate of 606,386,834 voting shares on an as-converted basis to SV Shares.

"We are incredibly proud of the trust our shareholders have placed in us, and we see this majority subscribed rights offering as a strong endorsement of our strategic direction," commented Robert Meyer, CEO of Final Bell. "The rights offering was met with robust participation from our shareholders, with a significant percentage taking part, reflecting solid confidence in our growth potential and strategic initiatives. This rights offering signifies a pivotal moment for Final Bell and underscores our shareholders' commitment to the Company's vision. The capital raised will enable us to accelerate our strategic plans and continue delivering outstanding value to our customers and stakeholders."

The proceeds raised will be used for funding debt service requirements and professional fees and expenses, and is expected to further empower Final Bell's product innovation, enhance its "cannabis as a service" model, and support the expansion of its subsidiary, 14th Round, a leader in cannabis vaporization devices in North America.

Final Bell continues to lead the way in the cannabis industry, offering comprehensive solutions that span device manufacturing, supply chain management, and the licensing of top-tier cannabis brands.

About Final Bell Holdings International Ltd.
Final Bell operates at the cutting edge of the regulated cannabis industry. Pioneering the "Cannabis as a Service" business model, Final Bell's operations span product innovation, device & hardware manufacturing, supply chain management, facility management, and brand development. Final Bell's subsidiary, 14th Round, is the leading cannabis vaporization device company in the United States and Canada. 14th Round also provides child resistant packaging solutions for cannabis vaporizers, edibles, and related products.

For further information please contact:
Kiarash Hessami
Director of Business Analytics and IR
604-365-6099
IR@finalbell.com

Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward- looking information. In particular, this news release contains forward-looking information regarding: the use of proceeds from the rights offering, anticipated benefits from same and future business plans. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects management's current beliefs and expectations and is based on information currently available to Final Bell and on assumptions Final Bell believes are reasonable. These assumptions include, but are not limited to: the Company's financial condition remaining constant and the success of Final Bell's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Final Bell to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business uncertainties; general capital market conditions; the actual results of future operations; changes in legislation, including health or cannabis legislation; the timing and availability of external financing on acceptable terms; sustaining expected growth trajectory; the continued acceptable and success of the Company's brands and strategic initiatives; and those risks described in the Company's other filings with the securities regulatory authorities which have been filed on the Company's profile on SEDAR+ at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive, and should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. The Company does not intend, nor undertakes any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except as required by applicable securities law.

SOURCE: Final Bell Holdings International Ltd.