Damn small cap co.s keep falling for BS of underwriters and financial advisors that equity issues must include warrants. Other co.s do share-only PPs:
IVI, CPS, ID, EVA, BZI, UPCO, PTQ, ACST, KHRN, STC, MRGO, HUGE, HALO, DOSE, TSK, BOY, ERTH, CTS, VHI, SEV, MILE, SCR, BHSC, MVP, RTI, MDF, BLU, PNG, MVP,
Subject to all necessary regulatory approvals, the Company is also undertaking a private placement of units of the Company ("Units") at a price of $0.50 per Unit (the "Offering Price"). Each Unit will be comprised of (i) one common share (a "Common Share") of the Company; and (ii) one half of one Common Share purchase warrant (each whole warrant, a "Warrant") of the Company (the "Offering"), for gross proceeds of $5.0 million, subject to the option of the Company to increase the size of the Offering to $10.0 million. Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at a price of $0.65 for a period of 24 months. Mr. Lustig has committed to acting as a lead investor in the Offering. Closing of the Offering is expected to occur on or about November 20, 2020 (the "Closing Date").