Business
CENTR Brands Corp. Announces Private Placement for up to $5 Million
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2023) - CENTR Brands Corp. (CSE: CNTR...
About this update from Centr Brands Corp.
[{"type":"text","content":"CENTR Brands Corp. Announces Private Placement for up to $5 MillionVancouver, British Columbia--(Newsfile Corp. - February 15, 2023) - CENTR Brands Corp. (CSE: CNTR) (FSE: 303)  (OTCQB: CNTRF) (\"CENTR Brands\" or the \"Company\") is pleased to announce a non-brokered private placement of units at a price of $0.30 per Unit for ‎aggregate gross proceeds of up to $5,000,000 (the \"Offering\").‎Each Unit will consist of one common share of the Company (\"Common Share\") and one Common Share ‎purchase warrant (each such Common Share purchase warrant, a \"Warrant\"‎). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company (each, a \"Warrant Share\") at a price of $0.50 per Warrant Share at any time on or before 5:00 p.m. (Vancouver time) on the date which is three years after the closing date of the Offering (the \"Closing Date\"), subject to adjustment in certain events. If, at any time following the Closing Date, the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the \"CSE\") is greater than $0.70 per Common Share for a period of 5 consecutive trading days (the \"Triggering Event\"), the Company shall have the right to accelerate the expiry date of the Warrants to a date not less than 30 days after the later of: (i) the date that ‎notice of such acceleration is provided to the Warrant holders; and (ii) ‎the date of issuance of a press release disclosing the occurrence of the Triggering Event‎.It is anticipated that the net proceeds of the Offering will be used for general corporate working capital purposes. The Offering is scheduled to close on or about March 31, 2023, or such other date not exceeding 45 days from ‎the date hereof, as determined by the Company. Closing of the Offering is subject to receipt of all regulatory approvals, including approval of the CSE.There is an offering document related to this Offering that can be accessed under the Company's profile at www.sedar.com and at https://www.findyourcentr.com/pages/investor-resources. Prospective investors should read this offering document before making an investment decision.Subject to compliance with applicable regulatory requirements and in accordance with ‎National Instrument 45-106 - Prospectus Exemptions (\"NI ...