West Island Brands - CEO, Boris Ziger
CEO, Boris Ziger
Source: Small Cap Power
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  • West Island Brands (WIB) has completed the second tranche of a non-brokered private placement
  • The company issued 1,430,000 units during the second tranche for gross proceeds of $357,500.00
  • The company issued 1,080,000 units during the first tranche for gross proceeds of $270,000
  • Aggregate gross proceeds raised total $627,500
  • West Island Brands, formerly Matica Enterprises, is a company focused on the medical marijuana industry
  • Shares in West Island Brands Inc. (WIB) are unchanged, trading at C$0.39 per share at 1:15 pm EST

West Island Brands (WIB) has completed the second tranche of a non-brokered private placement for gross proceeds of $357,500.00.

The second tranche consisted of 1,430,000 units priced at $0.25 per unit. Each unit includes one common share and one common share purchase warrant.

Each warrant will entitle the holder to purchase one common share at a price of $0.25 for a period of 24 months from the closing date of the offering.

The proceeds of the private placement will be used for general working capital purposes.

All securities purchased under this financing are subject to a four-month hold period.

Finder’s fees consisting of cash and broker warrants were paid in accordance with the policies of the CSE. Completion of the financing is subject to the acceptance of the CSE.

West Island Brands, formerly Matica Enterprises, is a company focused on the medical marijuana industry. Its projects include Dorval, Ionic mist, Hemmingford, and others.

West Island Brands Inc. (WIB) is unchanged on the day, trading at C$0.39 per share at 1:15 pm EST.

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