Business
Wildflower Brands Closes on Private Placement
Wildflower Brands Closes on Private Placement.
About this update from Wildflower Brands Inc
[{"type":"text","content":"\nVANCOUVER, British Columbia,, Aug. 02, 2019 (GLOBE NEWSWIRE) -- via NetworkWire: Wildflower Brands Inc. (CSE: SUN) (the “Company”) wishes to announce it has received subscriptions for a convertible debenture financing in the amount of $1,325,000.  The debentures will have a maturity date of two years from the closing date of the Offering (the \"Maturity Date\") and will bear interest from the date of closing at 10% per annum, payable monthly. The Convertible Debentures will be convertible, at the option of the holder, into units of the Company at any time prior to the close of business on the last business day immediately preceding the Maturity Date at a conversion price of $0.65 per unit (the \"Conversion Price\"). Each unit will be comprised of one common share and one half of one share purchase warrant with each whole warrant entitling the holder to purchase one common share at a price of $1.00 for a period of 2 years from the date of issue of the Convertible Debentures.  The Company may force the conversion of the principal amount of the then outstanding Convertible Debentures at the Conversion Price on not less than 30 days' notice should the daily volume weighted average trading price of the common shares be greater than $1.10 for any 10 consecutive trading days.\n The above mentioned financing has been fully subscribed.  The proceeds will be used to fund the California operations of the Company.  All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing. The securities issued will be subject to a four-month hold period.  A finder’s fee will be paid on a portion of the funds raised including to Industrial Alliance Securities. ABOUT WILDFLOWER BRANDS Wildflower Brands is a company headquartered in Vancouver building reputable brands and quality products that incorporate the synergistic effects of plants and their extracts. On Behalf of the Board of Directors “William MacLean” ____________________________________ William MacLean Director and CEO Cautionary and Forward-Looking Statements This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. ...