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/R E P E A T -- Chinook Closes $1.5 Million Canadian Dollar Series A Private Placement/
/R E P E A T -- Chinook Closes $1.5 Million Canadian Dollar Series A Private Placement/ ...
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[{"type":"text","content":"\n\n\n\n/R E P E A T -- Chinook Closes $1.5 Million Canadian Dollar Series A Private Placement/\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\nCanada NewsWire\nBERLIN, June 12, 2019\n\n\n\nChinook Insiders are the largest investors in the Series A financing as its German subsidiary expands in the European medical cannabis industry \n BERLIN, June 12, 2019 /CNW/ - Chinook Tyee Industry Limited (\"Chinook\") (TSXV: XCX), (Frankfurt: C4T, ISIN: CA16961T2083) completed its Series A non-brokered placement (Private Placement) of 10,000,000 Common Shares at a subscription price of $0.15 per Common Share (Common Shares), raising $1,500,000, which Chinook intends to use for working capital purposes.  All securities issued pursuant to the Private Placement will be subject to a four-month hold period, which will expire on October 13, 2019. \n\n \n \n\n \n\"Our Series A financing was oversubscribed and we thank investors in Germany and Canada for their support,\" said Mr. Alex Blodgett, CEO of Chinook. \"Chinook's insiders invested the maximum level allowed and are excited about developments ahead.\"\nChinook paid a cash finder's fee of $16,189.25 and issued 107,928 finder's warrants (each, a \"Finder's Warrant\") to PI Financial Corp., and paid a cash finder's fee of $19,845.00 and issued 132,300 Finders Warrants to General Research GmbH.  Each Finder's Warrant entitles the holder thereof to acquire one additional Common Share at a price of $0.15 for a period of six months from the date of issuance. \nThe Private Placement constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"), as insiders of Chinook subscribed for an aggregate of 2,536,842 Common Shares for gross proceeds of $380,526. Chinook is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the...