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Maricann Group Announces Amendment to Terms of Private Placement
Maricann Group Announces Amendment to Terms of Private Placement.
About this update from Wayland Group Corp
[{"type":"text","content":"\nNot for dissemination or distribution in the United States or through U.S. newswire services.\n TORONTO, July 30, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (Maricann or the “Company”) announced today that it has amended the terms of its previously disclosed private placement (See press release dated July 18, 2018).  The Company proposes to issue up to $30,000,000 of special warrants (\"Special Warrants\") at a price of $1.60 per Special Warrant (the \"Offering\").  Canaccord Genuity Corp. and GMP Securities L.P., will act as joint bookrunners and co-lead agents (collectively, the “Agents”) on a marketed, “best efforts” private placement basis. Each Special Warrant shall be automatically exercisable (without payment of any further consideration) into units of the Company (the “Units”) on the date that is the earlier of: (i) the date that is three business days following the date on which the Corporation obtains a receipt from the applicable securities regulatory authorities in the Province of Ontario and each of the jurisdictions in Canada in which the Special Warrants are sold (collectively, the “Securities Commissions”) for a (final) prospectus qualifying the distribution of the Units issuable upon exercise of the Special Warrants (the “Qualification Prospectus”) and (ii) the date that is four months and one day after the Closing Date (as hereinafter defined), subject to adjustment in certain events.  In the event the Company has not received a receipt from the Securities Commissions for the Qualifying Prospectus before October 4, 2018, each unexercised Special Warrant will thereafter entitle the holder to receive upon the exercise thereof, at no additional consideration, 1.05 Units (instead of one Unit). Each Unit will consist of one common share (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”).  Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of two years following the Closing Date (as hereinafter defined) of the Offering at an exercise price of $1.75 per share, subject to adjustment in certain events.  Beginning on the date that is four months plus one ...