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SIMPLY SOLVENTLESS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR PROCEEDS OF UP TO $500,000
SIMPLY SOLVENTLESS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR PROCEEDS OF UP TO $500,0...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"\n \n \n \n SIMPLY SOLVENTLESS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UNITS FOR PROCEEDS OF UP TO $500,000\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 March 28, 2024\n \n \n /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (\"\n \n SSC\n \n \") is pleased to announce a non-brokered private placement of up to 3,333,333 units (\"\n \n Units\n \n \") at a price of\n \n $0.15\n \n per Unit for aggregate gross proceeds of up to\n \n $500,000\n \n (the \"\n \n Financing\n \n \").  Each Unit consists of one common share and one common share purchase warrant (\"\n \n Warrant\n \n \") of SSC. 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 of issue. All securities issued under the Financing will be subject to a hold period expiring four months and one day from the date of issue.\n \n \n \n \n \n \n \n \n \n SSC intends to use the net proceeds of the Financing to facilitate accelerated production of its Astrolab, Frootyhooty and Lamplighter products for delivery into the\n \n Ontario\n \n and\n \n Alberta\n \n recreational cannabis markets, and for capital expenditures related to production efficiencies.\n \n \n SSC anticipates closing of the Financing (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.\n \n \n It is anticipated that some of the subscribers in the Financing will be insiders of SSC. Subscriptions for Units by insiders of SSC will be considered \"related party transactions\" for the purposes of National Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \"). It is anticipated that SSC will be exempt from the formal valuation and minority shareholder approval ...