Target Capital Inc. Announces Recapitalization Financing and New Management Team and Board of Directors

CALGARY, ALBERTA--(Marketwired - Nov. 21, 2017) -

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Target Capital Inc. ("Target" or the "Corporation") (TSX VENTURE:TCI)(CSE:TCI)(CSE:TCI.CN)(CNSX:TCI) is pleased to announce that it has entered into a definitive reorganization and investment agreement (the "Agreement") with Sonny Mottahed, Bill Macdonald and David Cheadle (the "Initial Investor Group") which provides for: (i) a non-brokered private placement of up to an aggregate of $5.0 million (the "Private Placement"); (ii) the appointment of a new management team (the "New Management Team") and board of directors; and (iii) a rights offering (the "Rights Offering") to holders of common shares ("Common Shares") of Target (collectively, the "Transaction"). Completion of the Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange (the "TSXV") and the Canadian Securities Exchange (the "CSE"). Upon completion of the Transaction, it is anticipated that the shareholders of Target will be asked to approve, at a special meeting called for such purpose, a change of the Corporation's name to "CBi² Capital Corp.".

The New Management Team will be led by Sonny Mottahed as President & Chief Executive Officer, Bill Macdonald as Executive Vice President - Corporate Development and David Cheadle as Chief Financial Officer.

Upon closing of the Transaction, the new board of directors will be comprised of Sonny Mottahed, Bill Macdonald, Gregory Turnbull, Matteo Volpi and Chad Oakes. Sony Gill, a partner in the Business Law Group in the Calgary office of the national law firm McCarthy Tétrault LLP, will act as Corporate Secretary.

New Management Team

The New Management Team are founding shareholders, senior officers and board members of two late stage licensed applicants under Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR") and they have developed a deep network of contacts within the legal cannabis sector in Canada, Europe, and all other legal international jurisdictions. The New Management Team has significant investment banking, direct investing, and legal advisory experience and are skilled at identifying, evaluating and adding value to start-up companies.