Deal sells up to 7.5 million units of one share, a half-share warrant
By Devika Patel
Knoxville, Tenn., April 10 - Naturally Splendid Enterprises Ltd. announced it plans a private placement of units to raise between C$500,000 and C$1.5 million.
The company will sell between 2.5 million and 7.5 million units of one common share and one half-share warrant at C$0.20 per unit.
Each warrant is exercisable at C$0.30 for two years. The strike price represents a 3.23% discount to the April 9 closing share price of C$0.31.
Proceeds will be used for equipment and facilities, inventory financing, regulatory filings and general corporate purposes.
The Vancouver, B.C., company develops natural superfood product lines.
| Issuer: | Naturally Splendid Enterprises Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$500,000 (minimum), C$1.5 million (maximum)
|
| Units: | 2.5 million (minimum), 7.5 million (maximum)
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Pricing date: | April 10
|
| Stock symbol: | TSX Venture: NSP
|
| Stock price: | C$0.31 at close April 9
|
| Market capitalization: | C$8.04 million
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