- Xebra Brands (XBRA) has announced a $600,000 private placement and a share consolidation
- The consolidation will occur on February 28, 2023, on the basis of 1 post-consolidation share for each 5 pre-consolidation shares
- The non-brokered financing will consist of up to 8,000,000 units priced, on a post-consolidated basis, at $0.075 each
- Xebra Brands is an international cannabis cultivation and consumer product company
- Xebra Brands (XBRA) opened with a gain of 25 per cent trading at $0.025 per share
Xebra Brands (XBRA) has announced a $600,000 private placement and a share consolidation.
The consolidation will occur on February 28, 2023, on the basis of 1 post-consolidation share for each 5 pre-consolidation shares. Any fraction of a common share will be rounded up or down to the nearest whole number.
As a result of the consolidation, Xebra’s outstanding common shares will be reduced to 39,339,581, on a pre-offering basis.
The non-brokered financing will consist of up to 8,000,000 units priced, on a post-consolidated basis, at $0.075 each.
Each unit is comprised of one common share and one common share purchase warrant.
Each warrant entitles the holder to acquire one common share for $0.10 for up to 18 months following the closing of the financing.
The company expects the financing to close on or about March 1, 2023.
All securities issued are subject to a hold period of four months and one day.
Xebra Brands is an international cannabis cultivation and consumer product company.
Xebra Brands (XBRA) opened with a gain of 25 per cent trading at $0.025 per share.