Deal sold 10,866,250 units of one share, one warrant at C$0.20 apiece
By Devika Patel
Knoxville, Tenn., Sept. 8 – Marapharm Ventures Inc. said it completed a C$2,173,250 non-brokered private placement of units. The oversubscribed deal priced for C$1 million on July 18.
The company sold 10,866,250 units of one common share and one warrant at C$0.20 per unit on a best-efforts basis.
Each warrant is exercisable at C$0.40 for one year. The strike price reflects a 100% premium to the July 15 closing share price of C$0.20.
Proceeds will be used for development of the company’s Las Vegas project and its project in Washington state and for general corporate purposes.
Based in Vancouver, B.C., the company invests in health and wellness, including medical and recreational marijuana.
| Issuer: | Marapharm Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,173,250
|
| Units: | 10,866,250
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | July 18
|
| Settlement date: | Sept. 8
|
| Stock symbol: | CSE: FEB
|
| Stock price: | C$0.20 at close July 15
|
|
|
|
|
© 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.
