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CannAmerica Announces Brokered Private Placement Co-led by Canaccord and Gravitas for Gross Proceeds of up to $10 Million
CannAmerica Announces Brokered Private Placement Co-led by Canaccord and Gravitas for Gross Proceeds of up to $10 Million.
About this update from Cannamerica Brands Corporation
[{"type":"text","content":"\n\n\n\nCannAmerica Announces Brokered Private Placement Co-led by Canaccord and Gravitas for Gross Proceeds of up to $10 Million\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\nCannAmerica Announces Brokered Private Placement Co-led by Canaccord and Gravitas for Gross Proceeds of up to $10 Million\nCanada NewsWire\nVANCOUVER, March 12, 2019\n\n\n\n/NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, March 12, 2019 /CNW/ - CANNAMERICA BRANDS CORP. (\"CANA\" or the \"Company\") (CSE: CANA) (OTCQB: CNNXF) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and Gravitas Securities Inc. as co-lead agents (the \"Agents\"), to sell, by way of a private placement on a commercially reasonable best efforts basis, up to 33,333,333 units of the Company (the \"Units\") at a price of C$0.30 per Unit (the \"Offering Price\") for gross proceeds of up to C$10,000,000 (the \"Offering\"). In addition, the Company has granted the Agents an option, exercisable at any time prior to the Closing Date, to increase the size of the offering by up to an additional 33,333,333 Units or C$10,000,000.\n\n \n \n\n \nEach Unit will consist of one common share of the Company (a \"Common Share\") and one common share purchase warrant (a \"Warrant\").  Each Warrant will be exercisable to acquire one Common Share for a period of 60 months from the closing date of the Offering (the \"Closing Date\") at an exercise price of C$0.50 per Warrant.\nThe Agents will be paid a cash commission equal to 8% of the gross proceeds of the Offering and will also receive warrants to purchase such number of Units as is equal to 8% of the Units sold under the Offering (the \"Compensation Warrants\"). The Compensation Warrants will be exercisable for a period of 24 months following the Closing Date at an exercise price equal to the Offering Price.\nThe Company intends to use the net proceeds of the Offering for capital expenditures for the launch of a major brand acquisition strateg...