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Abaxx Technologies Inc. Announces $15 Million Bought Deal Financing
Abaxx Technologies Inc. Announces $15 Million Bought Deal Financing Canada News...
About this update from Abaxx Technologies Inc
[{"type":"text","content":"\n \n \n \n Abaxx Technologies Inc. Announces $15 Million Bought Deal Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n April 8, 2021\n \n /CNW/ -\n \n Abaxx Technologies Inc.\n \n (NEO: ABXX) (OTCQB: ABXX) (\"Abaxx\" or the \"Company\") is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Cormark Securities Inc. and BMO Capital Markets Inc. (collectively the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase on a bought deal basis 3,947,400 units of the Company (the \"Units\") at a price of\n \n C$3.80\n \n per Unit, representing total gross proceeds of\n \n C$15,000,120\n \n (the \"Offering\"). Closing is expected on or about\n \n April 29, 2021\n \n (the \"Closing Date\"), and is subject to regulatory approval including that of the NEO Stock Exchange.\n \n \n Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each full warrant, a \"Warrant\"). Each Warrant will entitle the holder to acquire one Common Share of the Company at an exercise price of\n \n C$5.10\n \n for a period of 24 months following the closing of the Offering.\n \n \n The Underwriters also have an option to purchase up to an additional 592,110 Shares at the offering price (representing 15% of the Offering) on the Closing Date for market stabilization purposes and price to cover over-allotments for a period of 30 days after the Closing Date.\n \n \n The net proceeds of the Offering will be used by the Company for ongoing regulatory capital, working capital and general corporate purposes.\n \n \n The Shares to be issued under the Offering will be offered by way of a short form prospectus in each of the provinces of\n \n Canada\n \n , exc...