Deal sells 5 million units of one share, one warrant at C$0.20 apiece
By Devika Patel
Knoxville, Tenn., July 18 – Marapharm Ventures Inc. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.20 per unit on a best-efforts basis.
Each warrant will be exercisable at C$0.40 for one year. The strike price reflects a 100% premium to the July 15 closing share price of C$0.20.
Settlement is expected Aug. 31.
Proceeds will be used for development of the company’s Las Vegas project and its project in Washington state and for general corporate purposes.
Based in Vancouver, B.C., the company invests in health and wellness, including medical and recreational marijuana.
| Issuer: | Marapharm Ventures Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | July 18
|
| Settlement date: | Aug. 31
|
| Stock symbol: | TSX Venture: FEB
|
| Stock price: | C$0.20 at close July 15
|
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