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SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR GROSS PROCEEDS OF $3.85 MILLION
SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR GROSS PROCEEDS OF $3.85...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"\n \n \n \n SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR GROSS PROCEEDS OF $3.85 MILLION\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 /Not for distribution to U.S. news wire services or for dissemination in\n \n the United States\n \n ./\n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n July 17, 2024\n \n \n /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (\"\n \n SSC\n \n \") is pleased to announce that it has closed its previously announced oversubscribed non-brokered private placement of units (\"\n \n Units\n \n \") for gross proceeds of\n \n $3.85 million\n \n (the \"\n \n Financing\n \n \").\n \n \n \n \n \n \n \n \n \n \n Jeff Swainson\n \n , President & CEO of SSC, stated: \"We would like to thank the Financing participants for their continued belief in SSC, which resulted in an oversubscribed Financing in a challenging market. This capital is intended to fuel profitable revenue growth for our portfolio of brands, including Astrolab, Frootyhooty, Lamplighter, Roilty, and Zest, and to reduce cost of goods sold with the commissioning of in-house hydrocarbon extraction. Continued execution and prudent capital management are top priorities for our team, and we are focused on bringing that ethos into the CannMart Inc. integration, which is currently progressing as planned.\"\n \n \n A total of 15,400,000 Units were issued at a price of\n \n $0.25\n \n per Unit. Each Unit consists of one common share (\"\n \n Common Share\n \n \") and one-half of one common share purchase warrant (\"\n \n Warrant\n \n \") of SSC, with each whole warrant being exercisable for one Common Share of SSC at a price of\n \n $0.40\n \n per share for a period of two years from the date of issue. If, at any time prior to the expiry date of the Warrants, the closing price of the Common Shares on the TSX Venture Exchange (\"\n \n TSXV\n \n \") is greater than\n \n $0.40\n \n for any 10 consecutive trading days, SSC may, at SSC's discretion, and at any time going forward, del...