Business
Canadabis Capital Inc. Announces Commercially Reasonable Efforts Marketed Prospectus Offering of Units up to $5 Million, Concurrent Private Placement, Share Swap and Refinancing of Mortgage Facilities
Red Deer, Alberta--(Newsfile Corp. - June 2, 2021) - CanadaBis Capital Inc. (TSXV: CANB) (" Ca...
About this update from Canadabis Capital, Inc.
[{"type":"text","content":"Canadabis Capital Inc. Announces Commercially Reasonable Efforts Marketed Prospectus Offering of Units up to $5 Million, Concurrent Private Placement, Share Swap and Refinancing of Mortgage FacilitiesRed Deer, Alberta--(Newsfile Corp. - June 2, 2021) - CanadaBis Capital Inc. (TSXV: CANB) (\"CanadaBis\" or the \"Company\") is pleased to announce that it has filed with, and obtained a receipt for, a preliminary short form prospectus dated June 1, 2021 (the \"Prospectus\") with respect to a marketed offering (the \"Offering\") of units (the \"Units\") of the Company for gross proceeds to the Company of up to $5,000,000 at a price to be determined in the context of the market. Each Unit will consist of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"), with each Warrant being exercisable to acquire one Common Share.The Offering will be conducted on a commercially reasonable efforts basis and will be led by Leede Jones Gable Inc. (\"LJG\" or the \"Agent\"). The size and price of the Offering will be determined in the context of the market at the time of entering into a definitive agency agreement between the Company and the Agent. On closing of the Offering, the Company has agreed to pay the Agent a cash fee equal to 7.0% of the gross proceeds of the Offering. As additional compensation, the Agent will be issued broker warrants (the \"Broker Warrants\") as is equal to 7.0% of the aggregate number of Units issued pursuant to the Offering, with each Broker Warrant being exercisable to acquire one Common Share.The Company has granted the Agent an option (the \"Over-Allotment Option\"), exercisable in part or in whole at the Agent's sole discretion, at any time beginning on the closing of the Offering until 30 days following the closing of the Offering, to purchase up to that number of additional Units as is equal to 15% of the aggregate number of Units sold in the Offering for market stabilization purposes and to cover over-allotments, if any.The Prospectus has been filed in each of the provinces of Canada other than Quebec pursuant to National Instrument 44-101 - Short Form Prospectus Distributions.The closing of the Offering is expected to occur during the week of June 21, 2021 (the \"Offering Closing\") and is subject to customary market conditions and the Company receiving all...