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Vitality arranges private placement for $500,000 to expand distribution
Vitality arranges private placement for $500,000 to expand distribution Canada New...
About this update from Vitality Products Inc.
[{"type":"text","content":"\n\n\n\nVitality arranges private placement for $500,000 to expand distribution\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 20, 2018\n\n\n\nTrading Symbol:  VPI\n\n\n\nVANCOUVER, Feb. 20, 2018 /CNW/ - Vitality Products Inc. (the \"Company\") is pleased to announce a proposed non-brokered private placement (the \"Private Placement\") of up to five million units of the Company (each a \"Unit\"), at a subscription price of $0.10 per Unit, for gross proceeds of up to $500,000.\n\nEach Unit will consist of one common share (each a \"Common Share\") and one non-transferable share purchase warrant (each a \"Warrant\") of the Company, and each such Warrant will entitle the holder thereof to acquire one additional common share of the Company for a period of one year from the closing of the Private Placement at an exercise price per Warrant common share of $0.15; provided, however, that if at any time after the date that is more than four months and one day following the closing of the Private Placement the closing price of the Company's common shares is equal to or greater than $0.40 per common share for a period of 20 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 10th business day after the date on which such notice is given by the Company.\n\nThe Company plans to pay certain finders' fees associated with the completion of the Private Placement in accordance with the policies of the TSX Venture Exchange.  In addition, certain insiders of the Company may participate in the Private Placement.  The proceeds of the Private Placement will be used for the Company's general corporate and working capital purposes.  The Common Shares and the Warrants comprising the Units and any finders' fees to be issued in connection with the completion of the Private Placement will be subject to a hold period of four months and a day from the date of issuance in each instance.\n\nVITALITY® is an award-winning lin...