- Fiore Cannabis (FIOR) announces a non-brokered private placement of up to 4,000,000 units at C$0.15 per unit for gross proceeds of C$600,000
- Each unit in the private placement is comprised of one common share and one share purchase warrant
- Each warrant equals one common share at an exercise price of $0.22 for a period of eighteen months
- Proceeds will be used to fund expansion projects in the company’s Nevada and California operations
- Fiore Cannabis (FIOR) has been investing in the development of medical and recreational cannabis products since 2014
- Fiore Cannabis is unchanged, trading at C$0.16 per share at 11:45 am ET
Fiore Cannabis (FIOR) announces a non-brokered private placement of up to 4,000,000 units at C$0.15 per unit for gross proceeds of C$600,000.
The private placement is expected to close on or about April 9, 2021.
Each unit in the private placement is comprised of one common share and one share purchase warrant.
Each warrant is exercisable into one common share at an exercise price of $0.22 for a period of eighteen months from the date of issuance.
The warrants are subject to an accelerated expiration if the trading price of the company’s common shares closes at or above $0.50 per share for a period of ten consecutive trading days.
Securities issued in the private placement will be subject to a hold period of four months and one day.
Proceeds will be used to fund expansion projects in the company’s Nevada and California operations and for general working capital purposes.
“All of us at Fiore are excited about the future of our company. We continue to receive strong investor support for the company’s refreshed business strategy.
We have many milestones to achieve this year that will shape our company for years to come. This financing will enable us to move forward on several fronts right away to further sharpen the focus on our U.S. operations.” said Erik Anderson, President and CEO of Fiore Cannabis.
Fiore Cannabis (FIOR) has been investing in the development of medical and recreational cannabis products since 2014.
Fiore Cannabis is unchanged, trading at C$0.16 per share at 11:45 am ET.