Business
Wuhan General Group Announces $450,000 USD Private Placement by ThreeD Capital Inc.
Wuhan General Group Announces $450,000 USD Private Placement by ThreeD Capital Inc..
About this update from Wuhan General Group (china), Inc.
[{"type":"text","content":"CAPE TOWN, SA / ACCESSWIRE / December 30, 2020 / WUHAN GENERAL GROUP, INC. (OTC PINK:WUHN) ("Wuhan" or the "Company"), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to announce the following corporate update:The Company is pleased to announce a private placement financing of $450,000.00 USD with ThreeD Capital Inc. In consideration, the Company will issue 1,500,000 units (the "Units") at a price of $0.30 per Unit. Each Unit will consist of one (1) common share of the Corporation (a "Common Share") and one Common Share purchase warrant (a "Warrant") exercisable at $0.30 per Warrant. The Warrants will expire three (3) years from the date of issuance. At the option of the Company, the Company may force the Holder to exercise the Warrant at a price per share equal to $0.30, provided that (i) the average closing bid price of the Company's Common Stock as reported by the OTC Bulletin board shall have been equal to or greater than $1.00 for a period of twenty (20) consecutive trading days ending on the date preceding the date on which the Holder receives a notice from the Company in which it announces its intention to force the exercise of the Warrants. The closing date for the Private Placement will be at the latest January 30, 2021."Enchanted to have Sheldon Inwentash and his company ThreeD Capital aboard as our first strategic investor. Much more to come on this very synergistic alliance in the coming weeks" said Jeff Robinson, CEO of Wuhan General Group.About ThreeD Capital Inc.ThreeD (IDK)(IDKFF), is a publicly‐traded Canadian‐based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors. ThreeD's investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company's ecosystem.For further information:Website: https://threedcapital.comFollow us on Twitter: https://twitter.com/homeFollow us on LinkedIn: https://www.linkedin.com/feed/Gerry Feldman, CPA, CAChief Financial Officer and Corporate Secretary: ...