FinCanna Capital Corp. and Astar Minerals Ltd. Announce Financing Update

VANCOUVER, BC--(Marketwired - September 19, 2017) -

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FinCanna Capital Corp. (FinCanna), the royalty company for licensed medical cannabis, and Astar Minerals Ltd. (TSX VENTURE: TAR) (Astar) report an update to the terms of the non-brokered subscription receipt financing for gross proceeds of up to C$10,000,000 announced on July 13, 2017 and the brokered subscription receipt financing for gross proceeds of up to C$10,000,000 announced on July 19, 2017 (collectively, the Financings).

In each of the Financings, FinCanna will issue Subscription Receipts (the Subscription Receipts) at a price of C$0.50 per Subscription Receipt (the Issue Price). Each Subscription Receipt issued in connection with the Financings will be automatically converted, immediately before the completion of the acquisition of FinCanna by Astar by way of a plan of arrangement (the "Transaction"), as announced on July 13, 2017, into one common share of FinCanna without further payment or action on the part of the holder upon satisfaction of the escrow release conditions, which include, amongst other things, that all conditions precedent to the completion of the Transaction, other than the release of the escrowed funds raised pursuant to the Financings, shall have been satisfied, including the receipt of all governmental, stock exchange and shareholder approvals. In addition, the terms of the Financings have been revised such that upon conversion, holders of the Subscription Receipts will also receive one-half of a common share purchase warrant (a Warrant) with an exercise price of C$0.75 per common share exercisable for a period of two years.

Astar is a reporting issuer in the Provinces of British Columbia, Ontario and Alberta and its common shares are currently listed on the TSX Venture Exchange (the TSXV) under the symbol TAR.

Pursuant to the terms of the Transaction, the common shares of FinCanna will be exchanged for common shares of Astar, as the "Resulting Issuer" upon completion of the Transaction, on a one for one basis and the Resulting Issuer's common shares shall be listed and posted for trading on the Canadian Securities Exchange (the CSE). Each Warrant will become exercisable to acquire one common share of the Resulting Issuer at the exercise price of C$0.75.