- Clarus Securities has agreed to purchase 6,000,000 units of Rritual at a price of C$0.50 per unit for gross proceeds of C$3,000,000
- Each warrant entitles the holder to purchase one common share of Rritual at a price of $0.60 before March 5, 2024
- Rritual reserves the right to accelerate the expiry of the warrants
- The underwriters have been granted an over-allotment option to purchase up to an additional 900,000 units for potential gross proceeds of $3,450,000
- The offering is expected to close on or about September 8, 2021
- Rritual Superfoods is a premium brand in the emerging functional mushroom & adaptogenic superfood market
- Rritual Superfoods Inc. (RSF) opened trading at $0.54 per share
Rritual Superfoods (RSF) has entered into an agreement with Clarus Securities Inc.
Under the agreement, Clarus has agreed to purchase, on a bought deal basis, 6,000,000 units of Rritual at a price of C$0.50 per unit for gross proceeds of C$3,000,000.
Each unit will include one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Rritual at a price of $0.60 before March 5, 2024.
In the event that the common shares trade on the CSE at a price of $1.20 or greater per common share for a period of 10 consecutive trading days, Rritual may accelerate the expiry of the warrants by giving notice to the holders. In such a case, the warrants shall expire on the 31st day after the date of such notice.
The company has agreed to grant the underwriters an over-allotment option to purchase up to an additional 900,000 units, exercisable at any time for a period ending 30 days from the closing of the offering. In the event the over-allotment option is exercised in full, the aggregate gross proceeds of the Offering will be C$3,450,000.
The company intends to use the net proceeds for general working capital purposes.
The offering is expected to close on or about September 8, 2021, and is subject to the receipt of all necessary approvals, including the CSE.
Rritual Superfoods is the first award-winning, premium brand in the emerging functional mushroom & adaptogenic superfood market.
Rritual Superfoods Inc. (RSF) opened trading at $0.54 per share.