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Target Capital Inc. Announces Completion of Rights Offering
Target Capital Inc. Announces Completion of Rights Offering Canada NewsWire CALG...
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[{"type":"text","content":"\n\n\n\nTarget Capital Inc. Announces Completion of Rights Offering\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\nCALGARY, July 11, 2018\n\n\n\nCALGARY, July 11, 2018 /CNW/ - (TSXV:TCI) and (CSE:TCI) Target Capital Inc. d.b.a. CBi2 Capital (\"CBi2\" or the \"Corporation\") is pleased to announce the completion of its previously announced rights offering (the \"Rights Offering\") to holders (\"Shareholders\") of common shares of CBi2 (\"Common Shares\"). Under the Rights Offering, Shareholders subscribed for and purchased an aggregate of  10,437,715 units (each, a \"Unit\"), of which an aggregate of 1,524,999 Units were purchased by insiders of the Corporation, at a price of $0.06 per Unit, resulting in gross proceeds to the Corporation of $626,265. Each Unit consists of one Common Share and one half of one Common Share purchase warrant (a \"Warrant\"), with each whole Warrant entitling the holder thereof to purchase one Common Share at a price of $0.10 until June 27, 2023. \n\nThe Corporation intends to use the proceeds of the Rights Offering to execute on the Corporation's cannabis-focused investment strategy.\n\nFollowing the completion of the Rights Offering, the Corporation has 106,006,254 Common Shares and 59,918,880 Warrants outstanding. \n\nAbout CBi2 Capital\n\nTarget Capital Inc., to be renamed CBi2 Capital Corp., is a Calgary, Alberta based company engaged in making strategic investments in private companies, including small start‐up operations and land development corporations. The Corporation's Common Shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol \"TCI\". CBi2 is executing on a cannabis-focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. CBi2 will explore and invest in a number of strategic investment opportunities in the medical and recreational cannabis industry and in businesses offering ancillary supportive products and services. Upon receipt of...