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Bullboard - Stock Discussion Forum Nova Mentis Life Science Corp. C.LIB

Nova Mentis Life Science Corp is a Canadian-based company focused on building and supporting a diversified portfolio of health and wellness businesses. Through its subsidiary, the company is focused on exploring the anti-inflammatory effects of psilocybin in underexplored metabolic indications such as obesity and diabetes and providing a Health Canada Standard Licensed facility focused on the... see more

CSE:LIB - Post Discussion

Nova Mentis Life Science Corp. > Private Placement
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Post by Bellsey on Jan 21, 2018 4:50pm

Private Placement

Thoughts on this? 

https://thecse.com/sites/default/files/2018_01_19_Form_9_-_Notice_of_NBPP.pdf


Total amount of funds to be raised: $2,000,000

2. Provide full details of the use of the proceeds. The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction without reference to any other material. . General working capital purposes, seeking out revenue generating cannabis related ventures and North Road Ventures (wholly-owned subsidiary of the Company) ACMPR build-out costs.

Description of securities to be issued:
(a) Class Common Shares (the “Shares) (b) Number 5,000,000 Shares (c) Price per security $0.40 per Unit

Warrants:
(a) Number 2,500,000 Warrants (b) Number of securities eligible to be purchased on exercise of Warrants (or options) 2,500,000 Warrant Shares (c) Exercise price $0.60 (d) Expiry date 2 years from closing
Comment by Busyzzindahouse on Jan 21, 2018 5:03pm
Hmmm..... that was kinda slipped at the end of the day. Not sure what to make of this.  https://thecse.com/sites/default/files/2018_01_19_Form_9_-_Notice_of_NBPP.pdf Total amount of funds to be raised: $2,000,000 2. Provide full details of the use of the proceeds. The disclosure should be sufficiently complete to enable a reader to appreciate the significance of the transaction without ...more  
Comment by Bellsey on Jan 21, 2018 5:09pm
I don't understand the warrants at 60 cents (20 cents under our current price). Maybe this was all set up weeks ago when we were in the 40 cents. Harder to accept now that we are 70 cents to a dollar range. Look forward to hearing what others here think.  [/quote]
Comment by KushMan on Jan 21, 2018 5:43pm
This post has been removed in accordance with Community Policy
Comment by KushMan on Jan 21, 2018 5:45pm
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Comment by OMshantiOM on Jan 21, 2018 5:48pm
Thanks Kush for your comments...... and yes it was Bellsey who first posted it. I just inboxed u the link from his post. I too feel that there is another deal that will be announced this week. Cause i am sure that money is already ear marked for something......
Comment by KushMan on Jan 21, 2018 5:54pm
This post has been removed in accordance with Community Policy
Comment by Islandcr on Jan 21, 2018 7:51pm
This really shouldn't be allowed, at the very least they should have to amend the filing as the price has been well above that .40 (more than double) for weeks. I could see if it was tied to a transaction / acquisition of something but it's clearly not according to the filing.
Comment by rcash1 on Jan 21, 2018 9:45pm
That's funny I felt the same way . I don't like the 50% discount . I do like the minimum dilution for $3.5 million though . This deal must have been in the works in early Dec late Nov . Would have been nice if they waited until licensed though . Could have hit +1$ on pp instead of .40 .My Guess is they need the $ for a acquiring of something. Big plans in the works , me thinks.  
Comment by Drweedmd on Jan 21, 2018 10:52pm
are people figuring a short term bump down on this?  any price ranges to look at if so for adding?
Comment by Bellsey on Jan 21, 2018 10:58pm
Could drop but don't hold your breath. Good entry point would be high 60s low 70s. Doubt we drop further down, and that would probably be intra-day trading. I'll be adding in that area. Though I wouldn't be surprised if it doesn't drop. None of these people can sell their shares until 4 months + 1 day as per CSE Holding period rules on private placements. 
Comment by Ovechkin on Jan 22, 2018 6:58pm
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