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ODD BURGER ANNOUNCES CLOSING OF FIRST TRANCHE OF $2.5 MILLION PRIVATE PLACEMENT
ODD BURGER ANNOUNCES CLOSING OF FIRST TRANCHE OF $2.5 MILLION PRIVATE PLACEMENT ...
About this update from Odd Burger Corporation
[{"type":"text","content":"\n \n \n \n ODD BURGER ANNOUNCES CLOSING OF FIRST TRANCHE OF $2.5 MILLION PRIVATE PLACEMENT\n \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 Canada NewsWire\n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAW./\n \n \n \n \n TORONTO\n \n ,\n \n April 1, 2022\n \n /CNW/ - Odd Burger Corporation (\"\n \n Odd\n \n \n Burger\n \n \" or the \"\n \n Company\n \n \") (TSXV: ODD) (OTCQB: ODDAF) (FSE: IA9) is pleased to announce that it has closed the first tranche (the \"\n \n First Tranche\n \n \") of the non-brokered private placement previously announced on\n \n March 28, 2021\n \n . Under the First Tranche, the Company issued 625,000 units of the Company (the \"\n \n Units\n \n \") at a price of\n \n $0.40\n \n per Unit to\n \n James McInnes\n \n , CEO of the Company, and 625,000 units on the same terms to\n \n Vasiliki McInnes\n \n , COO of the Company, (each an \"\n \n Investor\n \n \", and collectively the \"\n \n Investors\n \n \") for aggregate gross proceeds of\n \n $500,000\n \n .\n \n \n \n \n \n \n \n \n \n Each Unit consists of one common share in the capital of the Company (a \"\n \n Common\n \n \n Share\n \n \") and one Common Share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of\n \n $0.60\n \n per Common Share (the \"\n \n Warrant\n \n \n Exercise\n \n \n Price\n \n \") at any time up to\n \n 4:00 p.m.\n \n (\n \n Toronto\n \n time) on or before the earlier of the date that is two years following the closing date of the Offering. The Units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.\n \n \n The net proceeds of the Offering will be used by the Company for sales and marketing of new franchise locations, upgrading manufacturing facilities, completing existing corporate restaurant construction projects and general working capital purp...