Namaste in much stronger position The investment market has finally reco gnized the importance and posive impact on the company of this announcement that was made a few days ago.
The funding will significantly expand Namaste options/flexibility as this industry evolves.
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Namaste Technologies Inc. (TSXV:N.V) (OTCQB:NXTTF) recently announced it has entered into a letter of engagement with Eight Capital, under which Eight Capital has agreed to purchase, as co-lead underwriter and joint bookrunner with Canaccord Genuity Corp., 15,000,000 units of the Company (the "Units"), on a "bought deal" basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $3.00 (the "Issue Price") for gross proceeds of $45,000,000 (the "Offering").
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.
If this option is exercised in full, an additional approximately $6,750,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $51,750,000.