Vancouver, British Columbia--(Newsfile Corp. - November 16, 2020) - CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF) (the "Company") announces that it proposes to complete a non-brokered private placement financing (the "Financing"). Pursuant to the Financing, the Corporation will issue and sell $1,500,000 of units ("Units"), with the ability of the Company to increase the size of the offering up to $2,000,000 prior to closing. A Unit is comprised of one common share (a "Common Share") and one common share purchase warrant of the Company (a "Warrant") at an issue price of $0.35 per Unit. Each Warrant will be exercisable to acquire one common share of the Company (a "Warrant Share") at a price of $0.60 per Warrant Share for a period of three years following the date of issue, subject to adjustment in certain events.
The net proceeds of the Financing are to be used for general working capital purposes. The Company may pay a Finder's fee in connection with the sale of certain of the Units to subscribers introduced to the Company by a finder. The Company expects to complete the Financing in one or more closings, the first of which is to occur on or before November 24, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange.
About CENTR Brands Corp. CENTR Brands Corp. is a better beverage company which develops and markets non-alcoholic beverages for the global market. The Company's first product, named CENTR, is a sparkling, low-calorie, cannabidiol (CBD) infused beverage.
www.findyourcentr.com
For further information, contact Joseph Meehan at info@centrcorp.com.
On behalf of the Board,
CENTR BRANDS CORP.
/s/ Joseph Meehan
Joseph Meehan, Chief Executive Officer
https://pro.ceo.ca/@newsfile/centr-brands-corp-announces-non-brokered-private-placement-cc2cb