RE:RE:Financing announced, hopefully fully funded for roll out! TAAT Lifestyle arranges $3-million private placement
TAAT Lifestyle & Wellness Ltd (C:TAAT)
Shares Issued 68,840,700
Last Close 7/21/2020 $0.79
Tuesday July 21 2020 - News Release
Mr. Joel Dumaresq reports
TAAT LIFESTYLE & WELLNESS LTD. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
TAAT Lifestyle & Wellness Ltd. has arranged a non-brokered private placement of up to 4,285,714 units of the company at a price of 70 cents per unit for gross proceeds of $3-million.
Each Unit consists of one (1) common share (the "Common Share") and one-half (1/2) of one (1) transferable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) additional Common Share of the Company for a period of one year from closing at a price of $1.00 per common share. In the event that the Shares have a closing price on the Canadian Securities Exchange (or such other exchange on which the Shares may be traded at such time) of $1.25 or greater per Share for a period of five (5) consecutive trading days at any time from the Closing Date, the Issuer may accelerate the expiry date of the Warrants by giving notice to the holders thereof (by disseminating a news release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth day after the date of such notice. All securities issued pursuant to the Private Placement are subject to a statutory four-month hold period pursuant to applicable securities laws of Canada.
The proceeds raised from this offering will be used by the Company for marketing of its product, investor relations activity, and for general working capital purposes. In connection with the Offering, the Company may pay a finder's fee subject to the policies of the Canadian Securities Exchange. Any insider participation in the Offering is unknown at this time.
About TAAT Lifestyle & Wellness Ltd