RE:Downerexercise price @ 96 cents tho. Might be the new consolidation point, unless good news soon.
richardtrader wrote:
THC BIOMED INTL LTD. P.O. Box 20033 Towne Centre Kelowna, B.C. V1Y 9H2 www.thcbiomed.com THC Draws Down $500,000 in Two Tranches from Capital Commitment THC.CSE THCBF - OTC TFHC.F Vancouver, B.C. – (October 3, 2017) THC BioMed Intl Ltd. (CSE: THC), ("THC" or the "Company") is pleased to announce that it intends to draw down a total of $500,000 in two tranches from its existing capital commitment agreement with Alumina Partners (Ontario) Ltd. (“Alumina”) is in the process of completing a private placement totaling $500,000. The first tranche of $250,000 closed on October 2, 2017 and the process for closing the second tranche of another $250,000 began today. The first tranche closed on October 2, 2017 for total funds of $250,000.12. In consideration for the $250,000.12, THC issued to Alumina 403,226 units at a price of $0.62 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company for a period of 36 months from closing at a price of $0.96 per share. THC also began the process of closing the second tranche today. THC intends to close this second tranche within the next five business days, for proceeds of approximately $250,000.42. When the $250,000.42 is received, THC intends to issue to Alumina 359,196 units at a price of $0.696 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the Company for a period of 36 months from closing at a price of $1.0875 per share. The investor in this private placement is Alumina Partners (Ontario) Ltd. and it is investing in THC pursuant to the capital commitment agreement between the companies that was announced by THC on August 11, 2017. The proceeds of the Private Placement will be used for general working capital, including the ramp up of existing production and sales operations and the exploration of new opportunities.