Business
Westleaf Inc. Announces C$12 Million Bought Deal Financing
Westleaf Inc. Announces C$12 Million Bought Deal Financing Canada NewsWire CALGA...
About this update from Decibel Cannabis Company Inc
[{"type":"text","content":"\n\n\n\nWestleaf Inc. Announces C$12 Million Bought Deal Financing\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\n\nCanada NewsWire\nCALGARY, April 10, 2019\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n CALGARY, April 10, 2019 /CNW/ - Westleaf Inc. (the \"Company\" or \"Westleaf\") (TSX-V:WL)(OTCQB:WSLFF) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp. (the \"Underwriters\"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 12,000 convertible debenture units of the Company (the \"Units\") at a price of $1,000 per Unit for aggregate gross proceeds to the Company of $12,000,000 (the \"Offering\"). Each Unit shall consist of one 9.5% senior unsecured convertible debenture (each a \"Convertible Debenture\") of the Company having a principal amount of $1,000 (the \"Principal Amount\") and 235 common share purchase warrants of the Company (each a \"Warrant\").\nThe Company has granted the Underwriters an over-allotment option to purchase up to additional Units, Convertible Debentures and/or Warrants (or any combination thereof, at the discretion of the Underwriters) equal to 15% of the Units sold under the Offering, at a price of C$1,000 per Unit, C$932 per Convertible Debenture and/or C$0.29 per Warrant, as applicable, exercisable in whole or in part at any time, for a period of 30 days after and including the closing date of the Offering (the \"Closing Date\"). \nThe Convertible Debentures will mature and be repayable on a Date that is 36 months from the Closing Date (the \"Maturity Date\") and will accrue interest at the rate of 9.5% per annum payable in arrears on June 30 and December 31 of each year, commencing on June 30, 2019. The Principal Amount shall be convertible, for no additional consideration, into common shares i...