Non-brokered deal offers units with whole warrants at C$0.25 per unit
By Devika Patel
Knoxville, Tenn., March 28 - Affinor Resources Inc. said it has arranged a C$2.5 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.25 per unit.
Each warrant is exercisable at C$0.40 for two years. The strike price is a 14.29% premium to C$0.35, the March 27 closing share price.
Settlement is expected April 4.
Proceeds will be used to review and evaluate potential acquisitions or partnerships in the medical marijuana and hemp industries, to attract experts in the sectors, to be listed on the U.S. Exchange, Marijuana Exchange and Frankfurt Exchange and for working capital.
The medical marijuana company is based in Montreal.
| Issuer: | Affinor Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.5 million
|
| Units: | 10 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | March 28
|
| Settlement date: | April 4
|
| Stock symbol: | CNSX: AFI
|
| Stock price: | C$0.35 at close March 27
|
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