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SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR NET PROCEEDS OF $800,000 AND MARKET EXPANSION INTO SASKATCHEWAN
SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR NET PROCEEDS OF $800,00...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"\n \n \n \n SIMPLY SOLVENTLESS ANNOUNCES CLOSING OF OVERSUBSCRIBED UNIT FINANCING FOR NET PROCEEDS OF $800,000 AND MARKET EXPANSION INTO SASKATCHEWAN\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 April 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 net proceeds of\n \n $800,000\n \n (the \"\n \n Financing\n \n \"), including approximately\n \n $100,000\n \n of proceeds from insiders. SSC is also pleased to announce the launch of products into the\n \n Saskatchewan\n \n recreational market.\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 belief in SSC, resulting in an oversubscribed Financing. We expect this capital will fuel profitable revenue growth in both existing and new markets, and we are excited about our prospects built on the foundation of compelling brands, tenacious work ethic, and a debt free balance sheet.\"\n \n \n \n \n Oversubscribed\n \n $800,000\n \n Unit Financing\n \n \n \n \n A total of 5,333,334 Units were issued at a price of\n \n $0.15\n \n per Unit with each Unit consisting of one common share and one common share purchase warrant of SSC (a \"\n \n Warrant\n \n \"). Each Warrant is exercisable for one common share of SSC at a price of\n \n $0.20\n \n per share for a period of three years from the date hereof. All securities issued under the Financing are subject to a hold period expiring four months and one day from the date of issue.\n \n \n 666,899 Units for net proceeds of approximately\n \n $100,000\n \n were purchased by insiders of SSC.\n \n \n SSC intends to use the proceeds of the Financing to facilitate accelerated prod...