Deal sells up to 7.5 million units of one share, a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 1 – Naturally Splendid Enterprises Ltd. said it arranged a C$1.5 million private placement of units on Nov. 27.
The company will sell 6 million units of one common share and one half-share warrant at C$0.25 per unit.
Each warrant is exercisable at C$0.40 for two years. The strike price represents a 73.9% premium to the Nov. 26 closing share price of C$0.23.
Proceeds will be used to pay a C$725,000 payment due under an agreement with Full Spectrum Laboratories Ltd. and Boreal Technologies Inc. and for general working capital and 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$1.5 million
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Pricing date: | Nov. 27
|
| Stock symbol: | TSX Venture: NSP
|
| Stock price: | C$0.23 at close Nov. 26
|
| Market capitalization: | C$8.58 million
|
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