if they can turn a profit by selling their pp shares for more than 1.15 some will do it plus the underwriter-what a job -gets free shares which i think he can sell at any time-and so we are down to 1.21 pps
Brokered Private Placement
Vancouver, British Columbia, December 7, 2017 – Cannabix Technologies Inc. (CSE: BLO) (the “Company”) is pleased to announce that it has closed its private placement of 4,000,000 units (“Units”) of the Company at a price of $1.15 per Unit (the “Offering Price”), for aggregate gross proceeds of $4.6 million (the “Offering”). Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant, each warrant entitling the holder to purchase one additional Common Share at an exercise price of $1.60 for a period of three years following closing. The Offering was underwritten by Cormark Securities Inc. (the “Underwriter”), which exercised in full its option to purchase up to an additional 500,000 Units at the Offering Price.
In connection with the Offering, the Underwriter received a cash commission of $276,000 and 240,000 broker warrants (the “Broker Warrants”), each Broker Warrant entitling the holder to purchase one Unit at the Offering Price for a period of two years following closing.
In addition, the Company is pleased to announce that it has closed a concurrent non-brokered private placement (the “Concurrent Private Placement”) of 850,000 units at the Offering Price, for aggregate gross proceeds of $977,500. The units issued pursuant to the Concurrent Private Placement were issued on substantially the same terms as the Units issued under the Offering.
Brokered Private Placement
Vancouver, British Columbia, December 7, 2017 – Cannabix Technologies Inc. (CSE: BLO) (the “Company”) is pleased to announce that it has closed its private placement of 4,000,000 units (“Units”) of the Company at a price of $1.15 per Unit (the “Offering Price”), for aggregate gross proceeds of $4.6 million (the “Offering”). Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant, each warrant entitling the holder to purchase one additional Common Share at an exercise price of $1.60 for a period of three years following closing. The Offering was underwritten by Cormark Securities Inc. (the “Underwriter”), which exercised in full its option to purchase up to an additional 500,000 Units at the Offering Price.
In connection with the Offering, the Underwriter received a cash commission of $276,000 and 240,000 broker warrants (the “Broker Warrants”), each Broker Warrant entitling the holder to purchase one Unit at the Offering Price for a period of two years following closing.
In addition, the Company is pleased to announce that it has closed a concurrent non-brokered private placement (the “Concurrent Private Placement”) of 850,000 units at the Offering Price, for aggregate gross proceeds of $977,500. The units issued pursuant to the Concurrent Private Placement were issued on substantially the same terms as the Units issued under the Offering.
