One (1) Seller My guess is that that there is one seller and, it is the foundation listed below that is a nonprofit corporation or, charitable trust.
Perhaps they needed money for their own operations.
PP was announced on May 13th, confirmation of foundation was divulged on May 21th.
I cannot understand why a foundation would be selling as they are non profit.
This is a gift for new investors to take advantage of.
I also think that once the business model is proven, we will be bought out by Phillip Morris as we have Jon Ruiz a key contact of Phillip Morris, that already sold them a company that became TOP TEN with them.
Vancouver, BC – TheNewswire - May 21, 2021 – PODA LIFESTYLE AND WELLNESS LTD. ("Poda Lifestyle" or the "Company") (CSE:PODA) (CNSX:PODA.CN) (FSE:99L) is pleased to announce that it has closed its previously announced non-brokered financing of units. In connection with the closing, the Company issued 2,500,000 units at a price of $0.40 per unit, for gross proceeds of $1,000,000. Each unit consists of one subordinate voting share and one-half of one warrant. Each whole warrant entitles the holder to purchase one subordinate voting share of the Company, at an exercise price of $0.50 per share, for a period of two years from the date of issuance. The warrants are transferrable. No Finder's fees were issued in connection with the offering.
The private placement is subject to the approval of the Canadian Securities Exchange, and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the proceeds from the private placement for working capital purposes.
"We are thrilled that Jon Ruiz, through a foundation of which he is an Executive Director, has participated in the offering," stated Ryan Selby, CEO of the Company. "To have our product be recognized as 'revolutionary' by someone with Mr. Ruiz's experience is a great acknowledgement of the vision and hard work by the team at Poda Lifestyle,” continued Selby.
Jon Ruiz was a key executive for one of the largest tobacco companies in the world, Philip Morris International (“PMI”), for more than 15 years. In 2004, he was appointed CEO of Tabaqueira, a former Portuguese state monopoly that was acquired by PMI and contributed as one of PMI´s top ten EBITDA producers worldwide.