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Cannabics Pharmaceuticals Raises $3,000,000 in Capital Raise Transaction
Cannabics Pharmaceuticals Raises $3,000,000 in Capital Raise Transaction.
About this update from Cnbx Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCannabics Pharmaceuticals Raises $3,000,000 in Capital Raise Transaction\n\n\n\n\n\nCannabics Pharmaceuticals Raises $3,000,000 in Capital Raise Transaction\nPR Newswire\nTEL AVIV, Israel, May 10, 2017\n\n\n\nTEL AVIV, Israel, May 10, 2017 /PRNewswire/ --\n\nCannabics Pharmaceuticals Inc. (CNBX) today announced it has entered into a securities purchase agreement with D-Beta One EQ, Ltd. (\"D-Beta\"). D-Beta will purchase 3,000,000 shares of common stock (the \"Purchased Shares\") at a purchase price of $1.00 per share, for aggregate proceeds of $3.0 million and may purchase up to an additional 1,500,000 shares of common stock (the \"Additional Shares\") at a purchase price of $2.00 per share over the next 12 months. No warrants are associated with this transaction.  \n\n     (Logo: http://mma.prnewswire.com/media/485543/Cannabics_Logo.jpg )\n\n\nPursuant to the Purchase Agreement, Cannabics Pharmaceuticals is required to register all shares previously acquired by D-Beta or its affiliates, the Purchased Shares, and the Additional Shares.\n\n\"This capital raise transaction will help us continue our efforts to create anti-cancer treatments based on natural cannabis medicine, as well as assist us in our strategy to penetrate into more territories, making our vision accessible to cancer patients everywhere,\" said Itamar Borochov, CEO of Cannabics Pharmaceuticals. \"D-Beta has been supportive of our growth strategy as an existing shareholder, and we are gratified to continue our relationship.\"\n\nAbout Cannabics Pharmaceuticals Inc. \n\nCannabics Pharmaceuticals (CNBX), a U.S public company, is dedicated to the development of Personalized Anti-Cancer and Palliative treatments. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and clinical studies. The Company's scientific focus is on identifying and harnessing the therapeutic properties of specific natural Cannabinoids and is creating individually tailored therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.\n\nDisclaimer: \n\nCertain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but a...