Vancouver, British Columbia – TheNewswire - July 29, 2021 – Gaia Grow Corp. (the “Company” or “Gaia”) (CSE:GAIA); (CNSX:GAIA.CN); (Frankfurt:GG0) announces that it has closed an initial tranche of a non-brokered private placement (the “Offering”) for gross proceeds of $836,000. In connection with closing, the Company has issued 16,720,000 units (each, a “Unit”) at a price of $0.05 per Unit. Each “Unit” consists of one common share and one common share purchase warrant (each, a “Warrant”) exercisable at a price of $0.055 until July 29, 2024.
The Company anticipates utilizing the proceeds from the Offering for equipment and expansion of TruExtracts and for general working capital.
The Company expects to close a further tranche of the Offering and will provide further information regarding closing of this additional tranche as soon as available.
All securities issued in the Offering are subject to a statutory hold period until November 30, 2021. In connection with closing of the initial tranche of the Offering, the Company has paid $17,500 and issued 350,000 Warrants to certain arms-length parties who have assisted by introducing subscribers to the Company.