Gallagher Security Inc - Private PlacementGLL has announced they will be doing a finacing of up to $1 million.
GALLAGHER SECURITY CORP. ANNOUNCES PRIVATE PLACEMENT
News Release - Kelowna, British Columbia – February 26,2021 Gallagher Security Corp. (the "Company") (CSE:GLL) is pleased to announce that it intends to complete a non-brokered private placement of up to 8,000,000 units (each a “Unit”) at a price of $0.125 per Unit for gross proceeds of up to $1,000,000 (the “Private Placement”). Each Unit will be comprised of one common share and half a common share purchase warrant (each a “Warrant”). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.20 per share for a period of 24 months from the date of closing of the Private Placement.
The Private Placement is subject to Canadian Securities Exchange (the “Exchange”) approval and all securities are subject to a four month hold period. Finder’s fees up to 8% may be payable in connection with the Private Placement, all in accordance with the policies of the Exchange and applicable securities laws.
The net proceeds from the Private Placement will be used for future exploration work on the Company’s projects, due diligence on MyCelium, advancing funds or investing in the joint-venture with MyCelium, corporate development, and general corporate and working capital purposes.
About Gallagher Security Corp.
Gallagher Security Corp. is a Canadian based company that entered into a Letter of Intent (“LOI”) with MyCelium Warehouse Ltd. (“MyCelium”) (see the news release dated February 23, 2021). MyCelium is positioned to be the leading supplier of the total infrastructure requirements and services to individuals and companies looking for the ‘Home Depot’ of the thriving Medical and Recreational Mushroom sector. Gallagher Security Corp. is headquartered in Kelowna, British Columbia. Common Shares are listed on the CSE Exchange under the symbol “GLL”.
Further Information
Further details regarding the proposed transaction and the resulting entity will be provided in a comprehensive news release if, and when, the parties enter into a definitive agreement.
The definitive agreement will incorporate the principal terms of the proposed transaction described in the LOI, and in addition, such other terms and provisions of a more detailed structure and nature as the parties may agree upon after receiving further tax, legal and financial advice from their respective advisors. However, there is no assurance that the definitive agreement will be successfully negotiated or entered into.
ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
The CSE does not accept responsibility for the adequacy or accuracy of this news release.