Business
KDA Group announces Closing of Private Placement
(via TheNewswire) Thetford Mines, Quebec / TheNewswire / March 21, 2019 - KDA Group ...
About this update from Kda Group Inc.
[{"type":"text","content":"KDA Group announces Closing of Private Placement(via TheNewswire)\n\n \nThetford Mines, Quebec / TheNewswire / March 21, 2019 - KDA Group Inc. (TSXV: KDA) (\"KDA\" or the \"Corporation\") is pleased to announce that the private placement previously announced in its press release dated December 17, 2018, has been completed with accredited investors totaling 21,500,000 Class A shares (\"Common shares\") at a price of $0.15 per Common share for total gross proceeds of $3,225,000 (the \"Private Placement\").\n\n\n \nThe Corporation paid a cash commission of $18,000 in relation to this Private Placement and issued 120,000 non-transferable share purchase warrants (the \"Broker warrants\"). Each Broker warrant entitles the holder to purchase one Common share at an exercise price of $0.15 per Common share for a period of 24 months ending March 21, 2021. All securities issued in connection with the Private Placement are subject to a mandatory four-month hold period expiring on July 22, 2019.\n\n\n \nKDA will use the Private Placement proceeds for its working capital, general expenses and the settlement of short-term debts except those to subscribers. As a result of the Private Placement, there are 65,527,614 Common shares issued and outstanding and if all the Broker warrants are exercised by the holder a total 65,647,614 Common shares will be issued and outstanding.\n\n\n \nThe Private Placement is subject to the approval of the TSX Venture Exchange (the \"TSXV\") and an amount of $2,000,000 is held in escrow pending satisfactory review by the TSXV of the transaction documents, including personal information forms. Upon TSXV's final acceptance, the amount of $2,000,000 held in escrow will be released and a final press release announcing the definitive closing of the Private Placement will be issued.\n\n\n \nThe Private Placement was carried out pursuant to prospectus exemptions of applicable securities laws. \n\n \n \nABOUT KDA\n\n\n \nKDA is a leading innovation and specialized solution provider in the pharmaceutical market. Today it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation i...