- Pure Extracts Technologies corp. (PULL) closes upsized C$8.5 million offering with significant retail demand
- At this final closing, Pure Extracts issued a sold aggregate of over 10.8 million special warrants for gross proceeds of over C$5.4 million
- With the final tranche of the private placement, a finder’s fee of over C$139 thousand and over 395 thousand finders’ warrants was paid and issued
- Pure Extracts also reveals it has granted 5 million stock options to purchase common shares to individual directors, officers, employees, and consultants belong to Pure Extracts
- Pure Extracts closes at C$0.76 per share.
Pure Extracts Technologies Corp. (PULL) closes upsized C$8.5 million offering with significant retail demand.
Pure Extracts has completed the second and final tranche of its non-brokered private placement offering of special warrants.
Each special warrant was listed at C$0.505, as was previously stated on December 16, 2020.
Pure Extracts issued a sold aggregate of over 10.8 million special warrants for gross proceeds of over C$5.4 million at this final closing.
The first closing issued an aggregate of 16.9 million special warrants with gross proceeds of over C$8.5 million under the private placement.
Each warrant will entitle said holders to acquire one common share at an exercise price of C$0.65 per warrant share for a period of 24 months.
With the final tranche of the private placement, a finder’s fee of over C$139 thousand and over 395 thousand finders’ warrants was paid and issued.
Each finder’s warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.65 per finder’s warrant share until January 20, 2023.
All securities issued under the said private placement’s final tranche will be subject to a statutory 4-month hold period. The securities will expire on May 21, 2021, under applicable Canadian securities laws.
Pure Extracts intends to use net proceeds from the private placement to expand its extraction business and general working capital.
The special warrants written about will not found on any stock exchange or over‐the‐counter market.
Pure Extracts has filed a preliminary base shelf prospectus. There is a more in-depth look at this on www.sedar.com.
With all the securities referred to above, they will not be registered under the US Securities Act of 1933 and may not be offered or sold within the US.
Pure Extracts also reveals it has granted 5 million stock options to purchase common shares to individual directors, officers, employees, and consultants belong to Pure Extracts.
The options are exercisable for the period ranging from two to five years from the insurance date at an exercised price of C$0.73.
Pure Extracts home base is 20 minutes north of Whistler, British Columbia. On September 25, 2020, Pure Extracts was granted its standard processing license by Health Canada under the Cannabis Act.
Pure Extracts closes at C$0.76 per share.
