- New Leaf Ventures (NLV) has completed its previously announced public offering for aggregate gross proceeds of $1,500,000
- The offering consisted of 6,000,000 units at a price of $0.25 per unit
- Proceeds will be used for product development, marketing and general and administration expenses
- New Leaf Ventures is a licensed producer and processor of ultra-premium cannabis
- New Leaf Ventures Inc. (NLV) opened trading at C$0.23 per share
New Leaf Ventures (NLV) has completed its previously announced public offering for aggregate gross proceeds of $1,500,000.
The offering consisted of 6,000,000 units at a price of $0.25 per unit. Each unit includes one common share and one half common share purchase warrant.
Each warrant will be exercisable at a price of $0.40 until November 1, 2023, subject to an acceleration clause. If the closing price of the common shares as quoted on the CSE equals or exceeds $0.60 per share for any 10 consecutive trading days, the company may elect to accelerate the expiry date of the warrants to the 30th day after the date on which the company notifies warrant holders.
Research Capital Corporation acted as agent for the offering and received a cash commission of $105,000 in connection with the offering. The company also issued 420,000 non-transferable share purchase warrants to the agent and members of its selling group.
New Leaf Ventures intends to use the proceeds from the offering for product development, facility production, branding and packaging, marketing and general and administration expenses.
New Leaf Ventures is a licensed producer and processor of ultra-premium cannabis. The company’s flagship enterprise is New Leaf USA and its subsidiaries, which provide licenses, consulting services, real property, intellectual property and equipment.
New Leaf Ventures Inc. (NLV) opened trading at C$0.23 per share.
