Business
CannAmerica announces the closing of the first tranche of its brokered private placement
CannAmerica announces the closing of the first tranche of its brokered private placement.
About this update from Cannamerica Brands Corporation
[{"type":"text","content":"\n\n\n\nCannAmerica announces the closing of the first tranche of its brokered 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\n\n\n\n\n\nCannAmerica announces the closing of the first tranche of its brokered private placement\nCanada NewsWire\nVANCOUVER, Jan. 10, 2019\n\n\n\nVANCOUVER, Jan. 10, 2019 /CNW/ - CANNAMERICA BRANDS CORP. (\"CannAmerica\" or the \"Company\") (CSE: CANA) (OTCQB: CNNXF) announces that it has repriced its brokered private placement previously announced on November 20, 2018 (the \"Offering\") to now consist of up to 16,666,666 units of the Company (\"Units\") at an issue price of $0.60 per Unit (the \"Offering Price\") for gross proceeds of up to $10,000,000.\n\n \n \n\n \nEach Unit consists of one common share of the Company and one common share purchase warrant (a \"Warrant\").  Each Warrant will be exercisable to acquire one common share of the Company for a period of 24 months from the date of issuance of such Warrants at an exercise price of C$0.80 per share, subject to early expiration in certain circumstances. \nThe Company is also pleased to announce the closing of the first tranche of the Offering (the \"First Tranche\"), pursuant to which the Company has issued 2,662,326 Units for gross proceeds of $1,597,397. In connection with the closing of the First Tranche, the Company has issued to Canaccord Genuity Corp., Gravitas Securities Inc., PI Financial Corp., Richardson GMP Ltd. and INFOR Financial Inc. (together, the \"Agents\") an aggregate of: (i) $87,497 in cash; (ii) 145,827 warrants (the \"Broker Warrants\"); and (iii) a corporate finance fee equal to 106,493 Units.\nEach Broker Warrant will be exercisable at any time prior to the date that is 24 months from the date of issue to acquire one Unit (a \"Broker Unit\") at the Offering Price. Each Broker Unit will consist of one common share in the capital of the Company and one common share purchase warrant (a \"Broker Unit Warrant\"). Each Broker Unit Warrant will be exercisable to acquire one common share in the capital of the Company...