Private Placement Just increased to 5 Million
TORONTO, ONTARIO, Nov 10, 2016 (Marketwired via COMTEX) -- TORONTO, ONTARIO--(Marketwired - Nov 10, 2016) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT)(OTCQB:SPLIF) is pleased to announce it has increased the size of the non-brokered private placement (the "Offering") of units of the Company ("Units") to gross proceeds of $5 million. (See press releases dated October 26, 2016 and November 9, 2016). Each Unit consists of one common share ("Common Share") of the Company and one-half of one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase a Common Share at $0.22 per share for a period of 18 months from closing. All securities issued in connection with this Offering are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. The Company engaged First Republic Capital Corporation ("First Republic") as the Lead Finder for the Offering. Existing Security Holder Exemption Given the strong demand for the Offering, the Company has determined that the Offering shall be offered to existing shareholders of the Company ("Existing Security Holders"), in addition to investors that qualify as Accredited Investors under applicable securities legislation (the "Existing Security Holder Exemption"). Existing shareholder wishing to purchase under the Existing Security Holder Exemption are reminded that in order to participate, a qualified shareholder must deliver (a) an executed subscription agreement in the required form, which will include requirements of the Existing Security Holder Exemption (e.g., that the subscriber was as of November 7, 2016 and continues to be as of the date of closing, a shareholder of the Company), (b) pay the subscription amount by November 14, 2016, or such other date as the Company may designate (payment instructions are contained in the subscription agreement), (c) there is a minimum subscription amount of $10,000, and (d) subscriptions will be accepted by the Company on a 'first come, first served' basis. Therefore, if the Offering is over-subscribed it is possible that a shareholder's subscription may not be accepted by the Company.