Simply Better Brands To Raise Up To $2M As It Increases Private Placement Offering Of Units

Author: Jelena Martinovic | February 10, 2022 10:24am

Simply Better Brands Corp. (TSX:SBBC) (OTCQB:PKANF) announced that it intends to increase the size of the non-brokered private placement to up to 580,046 units of the company at a price of CA$4.31 ($3.4) per unit for aggregate gross proceeds of up to roughly CA$2.5 million.

The net proceeds of the offering will be used by the company to repay debt and for working capital. No commissions or fees are payable in connection with this offering.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant.

Each whole warrant will entitle the holder thereof to purchase one common share at a price of $5.06 per common share at any time up to 4:00 p.m. (Calgary time) on or before two years following the closing date of the offering.

The completion of the transaction will be subject to acceptance of the offering by the TSX Venture Exchange.

Closing of the offering is expected to occur on or about February 18, 2022, subject to satisfaction of all closing conditions.

The units, including all underlying securities thereof, will have a hold period of four months and one day from the date of issue.

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Posted In: PKANF TSX:SBBC