- Boosh Plant-Based Brands Inc. (VEGI) announces a $2 million non-brokered private placement
- Boosh will issue up to 2,857,142 units at a price of $0.70 per unit
- Directors and officers of Boosh can acquire units
- The proceeds of the financing will be utilized for general working capital
- Boosh can increase the offering for an additional $500,000
- Boosh Plant-Based Brands Inc. (VEGI) is down 13.75 per cent and is trading at $0.69 per share as of 12:24 p.m. EST
Boosh Plant-Based Brands (VEGI) has announced a $2 million non-brokered private placement.
Boosh will issue up to 2,857,142 units at a price of $0.70 per unit. Each unit will include one common share and one share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share at a price of $1.00 per share for three years after the closing.
Directors and officers of Boosh can acquire units in the financing, which will be considered a related party transaction.
Finder’s fees may be paid to qualified parties in connection with the financing. Finder’s fees include eight per cent units and eight per cent broker warrants, or the same percentage for cash and broker warrants.
The proceeds of the financing will be utilized for general working capital.
The company reserves the right to increase the number of units issued pursuant to the financing to up to 3,571,428 units for up to total gross proceeds of $2.5 million.
Boosh Plant-Based Brands Inc. (VEGI) is down 13.75 per cent and is trading at $0.69 per share as of 12:24 p.m. EST.