Beleave Inc BLEVF

Beleave Announces $5 Million Non-Brokered Private Placement

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Beleave Announces $5 Million Non-Brokered Private Placement of Units
 

Toronto, ON – November 20^th, 2017 - Beleave Inc. ("Beleave" or the "Company") (CSE: BE; OTCQX: BLEVF) is pleased to announce its intention to complete a non-brokered private placement (the "Non-Brokered Offering") of up to 3,333,334 units of the Company at a price of $1.50 per unit for gross proceeds of approximately $5 million. The Company has already received sufficient interest from individuals to complete the $5 million financing. The Company may, as a result, increase the size of the Non-Brokered Offering by up to 20%, for aggregate gross proceeds of approximately $6 million.
 
Each unit is comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $2.00 for a period of 24 months from the date of issuance of the Warrant, subject to accelerated expiry in the event that the ten-day volume weighted average price of the Common Shares on the Canadian Securities Exchange (the "CSE"), or other exchange or quotation system where the Company's shares are listed and where a majority of the trading volume of the Common Shares occurs, equals or exceeds $3.00. Subject to customary closing conditions, including Canadian Securities Exchange approval, the Non-Brokered Offering is expected to close on or about December 1, 2017.
 
"We are happy to continue taking yet another calculated step in the company's advancement," commented Beleave CEO Andrew Wnek, "The company remains committed to taking an economic approach to its growth and thanks all shareholders for their continued support."