Deal funds acquisition or building of medicinal marijuana operations
By Devika Patel
Knoxville, Tenn., Aug. 12 – Lexaria Corp. settled a $187,700 private placement of units on Aug. 12, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 1,251,333 units of one common share and a warrant at $0.15 per unit. The warrants are each exercisable at $0.25 for 18 months. The strike price reflects a 108.33% premium to the Aug. 11 closing share price of $0.12.
Proceeds will be used for general working capital, administrative uses and the acquisition or building of medicinal marijuana operations.
Leede Financial Markets was paid a $7,650 cash finder’s fee and received 51,000 broker warrants.
Lexaria, a Kelowna, B.C.-based oil and gas company, is focusing its efforts on becoming a participant in the legal marijuana sector.
| Issuer: | Lexaria Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $187,700
|
| Units: | 1,251,333
|
| Price: | $0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $0.25
|
| Pricing date: | Aug. 12
|
| Stock symbol: | OTCBB: LXRP
|
| Stock price: | $0.12 at close Aug. 11
|
| Market capitalization: | $4.47million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
