Well done management, found 400k private placement to stave off Bankruptcy. Although, wow, 8 million more shares issued if it works. 1/3 more of outstanding. You sure are Lucky, Lucky777
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2019) - Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) ("Peekaboo Beans" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 4,000,000 units ("Units") at a price of $0.10 per Unit for aggregate gross proceeds of up to approximately $400,000 (the "Private Placement"). The Company intends to use the proceeds from the Private Placement for corporate development and general working capital purposes. Closing of the Private Placement is expected to occur on or before May 31, 2019 (the "Closing Date").
Each Unit will consist of one (1) common share (each, a "Common Share") in the capital of the company and one (1) common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.15 per Common Share until the date which is three (3) years from the Closing Date. The Company has agreed to pay certain eligible finders a finders fee (each, "Finder"): (i) a cash fee (which may be payable in Common Shares at the price of $0.10 per Common Share) equal to 8% of the gross proceeds raised by such Finder under the Private Placement; and (ii) issue Warrants to acquire such number of Common Shares equal to 8% of the total number of Units sold by each Finder under the Private Placement.
All securities issued under the Private Placement, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.
Read more at https://stockhouse.com/news/press-releases/2019/05/08/peekaboo-beans-announces-a-400-000-non-brokered-private-placement#6OlyTtSGZSrFZAk6.99