Business
Delivra Health Brands Announces Non-Brokered Private Placement of Units
Vancouver, British Columbia--(Newsfile Corp. - December 1, 2023) - Delivra Health Brands Inc.
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About this update from Delivra Health Brands Inc
[{"type":"text","content":"Delivra Health Brands Announces Non-Brokered Private Placement of UnitsVancouver, British Columbia--(Newsfile Corp. - December 1, 2023) - Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) (\"Delivra Health\" or the \"Company\"), a consumer packaged goods company uniquely positioned in the health and wellness sector, is pleased to announce a non-brokered private placement (the \"Offering\") of up to 60,000,000 units (the \"Units\") at a price of $0.015 per Unit for aggregate gross proceeds of up to $900,000. Each Unit is comprised of one common share of the Company (\"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share (each, a \"Warrant Share\") at a price of $0.05 (the \"Exercise Price\") per Warrant Share for 36 months following the completion of the Offering.The Company intends to use the net proceeds of the Private Placement for working capital and general corporate purposes and to support its ongoing marketing initiatives to support its distribution and customer acquisition strategy. All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance prescribed by the TSX Venture Exchange (the \"Exchange\") and the resale rules of applicable securities legislation. The Company may pay certain finders (the \"Finders\") a cash finder's fee of up to 7% of the proceeds generated by such Finder. It is anticipated that the closing of the Offering will occur on or about December 8, 2023. Completion of the Offering is subject to, among other things, acceptance by the Exchange. Certain insiders of the Company (\"Insiders\") will be participating in the Offering. Such subscriptions by the Insiders will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Security Holders in Special Transactions (\"MI 61-101\"). However, any such purchase would be exempt from the formal valuation and minority approval requirements of MI 61-101 by virtue of the exemptions contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, and where there is no other requirement, corporate or otherwise, to hold a meeting to obtain any approval of the holders of any class of affected securities.The Company did not file a material change report more than 21 days b...