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Else Nutrition Announces $10 Million Bought Deal and Concurrent up to $5 million Private Placement
Else Nutrition Announces $10 Million Bought Deal and Concurrent up to $5 million Private P...
About this update from Else Nutrition Holdings Inc
[{"type":"text","content":"\n\n\n\nElse Nutrition Announces $10 Million Bought Deal and Concurrent up to $5 million 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\n\nCanada NewsWire\nVANCOUVER, BC, Sept. 15, 2020\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 VANCOUVER, BC, Sept. 15, 2020 /CNW/ - Else Nutrition Holdings (TSXV: BABY) (OTCQX: BABYF) (FSE: 0YL) (\"Else\" or the \"Company\"), is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, an aggregate of 4,445,000 units (the \"Units\") of the Company at a price of $2.25 per Unit (the \"Offering Price\") for aggregate gross proceeds to the Company of approximately C$10 million (the \"Offering\"). \nEach Unit shall consist of one common share (each a \"Common Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"). Each Warrant shall be exercisable to acquire one common share of the Company (a \"Warrant Share\") for a period of 24 months from closing of the Offering at an exercise price of C$3.25 per Warrant, subject to adjustment in certain events.\nThe Company has granted the Underwriters an option (the \"Over-Allotment Option\") to purchase up to an additional 666,750 Units at the Offering Price, which Over-Allotment Option will be exercisable at any time and from time-to-time, for a period of 30 days following the Closing Date (as defined below), which would result in additional gross proceeds of approximately $1.5 million. The Over-Allotment Option is exercisable to acquire Units, Common Shares and/or Warrants (or any combination thereof) at the discretion of the Underwriters.\nThe Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec and elsewhere on a private placement basis. Th...