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Radient Technologies Inc. (OTCPK:RDDTF) (TSXV:RTI) , a commercial manufacturer cannabis extracts and packaged products, has closed the second and final tranche of its non-brokered private placement of up to 30 units.
Under the final tranche, Radient has issued 1 unit at a price of $40,000 for gross proceeds of $40,000. each unit consists of one million common shares of the company and 500,000 common share purchase warrants, with each warrant entitling the holder to purchase one common share of the company at $0.07 per share for 36 months following the final tranche closing, subject to early expiry if, commencing four months after the final tranche closing, the common shares of the company trade at a volume weighted average trading price of $0.15 or higher for a period of 20 consecutive days.
In connection with the final tranche, the company paid aggregate finder's fees in accordance with the policies of the TSX Venture Exchange consisting of $3,200 in cash and the issuance of 0.08 non-transferrable units.
Securities issued under the final tranche are subject to a hold period expiring on August 20, 2023. Closing of the final tranche remains subject to receipt of all necessary regulatory approvals, including final approval of the TSX Venture Exchange. The company intends to use the net proceeds of the final tranche for working capital and general corporate purposes.
Photo: Benzinga edit with photo by Kindel Media on Pexels
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