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SIMPLY SOLVENTLESS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT TO GROSS PROCEEDS OF UP TO $800,000
SIMPLY SOLVENTLESS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT TO G...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"\n \n \n \n SIMPLY SOLVENTLESS ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT TO GROSS PROCEEDS OF UP TO $800,000\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 CALGARY, AB\n \n ,\n \n April 8, 2024\n \n /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (\"\n \n SSC\n \n \") is pleased to announce that due to very strong demand, it has upsized its non-brokered private placement of units from aggregate gross proceeds of up to\n \n $500,000\n \n to aggregate gross proceeds of up to\n \n $800,000\n \n (the \"\n \n Financing\n \n \"). The Financing was previously announced in SSC's press release dated\n \n March 28, 2024\n \n , which is available on SSC's SEDAR+ profile at\n \n www.sedarplus.ca\n \n . 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, expansion into new markets, and for capital expenditures related to production efficiencies.\n \n \n Up to 5,333,334 units (\"\n \n Units\n \n \") will be issued pursuant to the Financing at a price of\n \n $0.15\n \n per Unit, with each Unit consisting of one common share of SSC 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 of issue.\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 Protect...