Safe Supply Streaming and Origin Therapeutics Engage Research Capital, Announce Financing Upsized to $4 Million

Safe Supply Streaming Co. and Origin Therapeutics (CSE: ORIG) (FSE: U8B) announced today the upsizing of the companies’ previously disclosed private placement offering of subscription receipts from $3 million to $4 million in aggregate gross proceeds. The Offering is being led by Research Capital Corporation as the sole agent and sole bookrunner on a best-efforts basis. Under the Offering, up to 10,000,000‬ Subscription Receipts may be issued at a price per Subscription Receipt of $0.40.

Commenting on the announcement, Safe Supply CEO Bill Panagiotakopoulos stated:

“We are pleased to be making this announcement and feel that the increased demand in the Offering is indicative of a broad interest in Safe Supply and our ability to execute upon our business plan. We are a first mover in the narcotics safe supply industry and are proud to be putting a stake in the ground as such.”

The Offering is being conducted in connection with the business combination transaction between Origin and Safe Supply (the “Transaction”), as further described in Origin’s news release dated January 31, 2023.

Source: SafeSupplyStreaming.com

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The completion of the Transaction is subject to a number of conditions, including, among other items:

1. The entering into of the definitive agreement between Safe Supply and Origin by no later than March 31, 2023, or such other date as may be agreed to by Safe Supply and Origin;
2. The consolidation of the Origin’s existing share capital on a 4-for-1 basis or such other basis as mutually determined by Safe Supply and Origin (the “Consolidation”);
3. Origin changing its name to “Safe Supply Streaming Co Ltd.” or such other mutually determined name;
4. Completion of the Offering;
5. The entering into by Safe Supply of certain letters of intent with respect to investment opportunities;
6. Receipt of all required shareholder, regulatory and third-party consents, including approval of the Transaction by the Canadian Securities Exchange (CSE);
7. The listing of the shares of the Resulting Issuer (“Resulting Issuer Shares”) on the CSE (collectively, the “Escrow Release Conditions”).

Each Subscription Receipt will be automatically converted, for no additional consideration, into one Resulting Issue Share upon satisfaction of the Escrow Release Conditions.

If the Escrow Release Conditions are not satisfied within 120 days following the closing of the Offering (or such later date as RCC may consent in writing), Safe Supply shall refund the subscription proceeds without penalty or deduction to the subscribers in the Offering.

The Offering is expected to close on or about March 31, 2023, or such other date as agreed upon between Safe Supply, Origin and the Agent.

In connection with the Offering, the Agent will receive an aggregate cash fee equal to 7.0% of the gross proceeds from the Offering (the “Commission”), subject to a reduction for certain orders on a “president’s list”. The Agent will also be issued compensation options equal in number to 7.0% of the number of Subscription Receipts sold under the Offering (the “Compensation Options”). Each Compensation Option shall be exercisable to acquire one Resulting Issuer Share for a period of 24 months following the completion of the Transaction.

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