Business
Ehave Announces Private Placement Transactions to Raise up to CDN$3 Million
Ehave Announces Private Placement Transactions to Raise up to CDN$3 Million.
About this update from Ehave Inc.
[{"type":"text","content":"\n\n\n\nEhave Announces Private Placement Transactions to Raise up to CDN$3 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\n\n\n\n\n\nEhave Announces Private Placement Transactions to Raise up to CDN$3 Million\nCanada NewsWire\nTORONTO, Feb. 7, 2018\n\n\n\nCompletes Initial Tranche for CDN$1,159,000 in Gross Proceeds\n\n\n\nTORONTO, Feb. 7, 2018 /CNW/ -- Ehave, Inc. (OTCQB: EHVVF), a healthcare company dedicated to empowering the mental health community with next-generation digital solutions, today announced two private placement transactions, which combined enable the Company to raise up to CDN$3 million in gross proceeds.  Ehave has completed the first tranche of a CDN$1.5 million private placement comprised of secured convertible debentures and common share purchase warrants, for gross proceeds of CDN$750,000.  In parallel, Ehave announced the completion of the first tranche of a second private placement to raise up to an additional CDN$1.5 million, comprised of unsecured convertible debentures and common share purchase warrants, for gross proceeds of CDN$409,000.\n\nProceeds from the private placements will be used for general working capital purposes as Ehave continues to develop and market its novel health informatics platform, Ehave Connect.\n\nIn connection with the private placements, Ehave has agreed to pursue completion of a subsequent financing for aggregate gross proceeds of at least CDN$2 million as well as approval for listing the Company's common stock on a recognized stock exchange in Canada.  Following such a financing, holders of the secured and unsecured debentures may convert these assets at their option to common shares of Ehave at a conversion price to be determined by the terms of the subsequent financing.\n\nThis press release shall not constitute an offer to sell, the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state o...