Company sells common stock, convertible debentures, two-year warrants
By Devika Patel
Knoxville, Tenn., June 30 – Abba Medix Group Inc. said it will raise between C$6 million and C$10 million in a private placement of units, which will be conducted on a best-efforts basis in connection with the company’s planned acquisition of Marijuana for Trauma Inc. and The Longevity Project.
The company will sell between 12 million and 16 million equity units of one common share and one warrant at C$0.25 per unit.
Abba also will sell between 3,000 and 6,000 debt units of one 8.5% secured debenture and 1,000 warrants at C$1,000 per unit.
The warrants will be exercisable at C$0.40 for two years. The strike price is a 42.86% premium to the June 4 closing share price of C$0.28.
Mackie Research Capital Corp. is the agent.
The medical marijuana company is based in Toronto.
| Issuer: | Abba Medix Group Inc.
|
| Issue: | Units of one common share and one warrant, units of an 8.5% secured debenture and 1,000 warrants
|
| Amount: | C$6 million (minimum), C$10 million (maximum)
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Mackie Research Capital Corp.
|
| Pricing date: | June 30
|
| Stock symbol: | CSE: ABA
|
| Stock price: | C$0.28 at close June 4
|
| Market capitalization: | C$553,840
|
|
|
| Equity units
|
| Amount: | C$3 million (minimum), C$4 million (maximum)
|
| Units: | 12 million (minimum), 16 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
|
|
| Debt units
|
| Amount: | C$3 million (minimum), C$6 million (maximum)
|
| Units: | 3,000 (minimum), 6,000 (maximum)
|
| Price: | C$1,000
|
| Coupon: | 8.5%
|
| Warrants: | 1,000 warrants per unit
|
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