- Bynd Cannasoft Enterprises has announced a non-brokered private placement for gross proceeds of $649,500
- The company has agreed to issue up to 150,000 common shares to Israel-based investors at an issue price of $4.33 per share
- Proceeds will be utilized to pay for public relations, investor relations and business marketing costs
- BYND has developed a CRM platform designed to serve the needs of the medical cannabis industry
- BYND Cannasoft Enterprises Inc. (BYND) opened trading at C$4.33
Bynd Cannasoft Enterprises has announced a non-brokered private placement for gross proceeds of $649,500.
The company has agreed to issue up to 150,000 common shares at an issue price of $4.33 per share.
The Private Placement is scheduled to close before the end of October and is conditional upon receipt of all necessary regulatory approvals.
Proceeds will be utilized to pay for public relations, investor relations and business marketing costs.
No finder’s fee will be payable in connection with the offering.
All shares issued will be subject to a statutory four-month hold period.
The shares are expected to be offered exclusively to investors in Israel.
Mr. Yftah Ben Yaackov, the BYND’s CEO, commented on the capital raise.
“This private placement will allow us to invest in marketing and public relations, an area we have barely invested in since our listing on the CSE back in April 2021, it will increase the visibility of our company worldwide and will help create real value for our shareholders and the company”.
BYND is an integrated software/cannabis company based in Israel. Building on its 20 years of experience in CRM software, BYND has recently begun the development of an innovative new CRM platform designed to serve the needs of the medical cannabis industry. This new platform will be the first of its kind for the medical cannabis field. The company is confident it will transform the industry into a more organized, accessible, and price transparent market. Data and information collected through the operation of the Cannabis Farm will allow BYND to test its new Cannabis CRM platform and adjust the platform as necessary. Operating the Cannabis Farm and selling medical cannabis will bring in additional revenue to further support BYND during the initial roll‐out years of its cannabis CRM platform.
BYND intends to construct a 3.7-acre farm facility near Ashkelon, Israel, to grow medical cannabis.
BYND Cannasoft Enterprises Inc. (BYND) opened trading at C$4.33.