- Vejii Holdings (VEJI) has announced a brokered private placement for gross proceeds of $5,000,000
- The company will issue unsecured convertible debentures at $1,000 per debenture
- The debentures will bear an interest rate of 12 per cent per annum calculated and payable semi-annually
- Vejii anticipates closing the offering on December 23, 2021
- Vejii is a unified digital marketplace and fulfillment platform offering thousands of plant-based and sustainable-living products
- Vejii Holdings Ltd. (VEJI) opened trading at C$0.19 per share
Vejii Holdings (VEJI) has announced a brokered private placement for gross proceeds of $5,000,000.
The offering will be led by Research Capital Corporation, as lead agent and sole bookrunner.
The company will issue unsecured convertible debentures at $1,000 per debenture. Vejii will also grant the agent the option to offer up to $750,000 in additional debentures at any time up to 48 hours prior to the closing date.
The debentures will bear an interest rate of 12 per cent per annum calculated and payable semi-annually commencing on June 30, 2022. The Debentures will mature two years following the closing date. The debentures and accrued interest will be redeemable in cash or converted into common shares at a price of $0.50 per share.
The debentures and accrued interest will be subject to early redemption if the closing price of the common shares on the CSE is equal to or greater than $0.70 per share for a period of ten consecutive trading days.
Vejii anticipates closing the offering on December 23, 2021.
Proceeds will be used to support M&A, customer acquisition and marketing and for general working capital purposes.
The agent will receive a cash commission and purchase warrants.
Vejii is a unified digital marketplace and fulfillment platform featuring thousands of plant-based and sustainable-living products from a growing list of hundreds of vendors.
Vejii Holdings Ltd. (VEJI) opened trading at C$0.19 per share.