The cannabis beverage company sold 844,800 units, each containing one common share and one purchase warrant, at a price of C$0.25 per unit
Bevcanna Enterprises Inc () (OTCQB:BVNNF) announced late Friday that it closed a non-brokered private placement worth C$211,500 and settled nearly C$660,000 in debt.
The cannabis beverage company sold 844,800 units, each containing one common share and one purchase warrant, at a price of C$0.25 per unit. Each warrant entitles the holder to purchase an additional share at a price of C$0.40 per share until September 18, 2022.
Bevcanna said it plans to use the money for general working capital purposes.
READ: BevCanna Enterprises to buy e-commerce retailer Naturally Pure Therapy Products
The company also announced that it settled C$659,131.47 in debt owed to creditors by providing more than 2.6 million shares at a price of C$0.25
Additionally, Bevcanna has granted stock options to purchase up to a total of 500,000 common shares of the company to two of its consultants. All 500,000 options vest immediately and are exercisable for a period of two years at a price of C$0.30 per common share.
Based in British Columbia, BevCanna has a 292-acre outdoor cultivation site in the Okanagan Valley and exclusive rights to a pristine spring water aquifer, access to a world-class 40,000 square feet, HACCP-certified manufacturing facility, with a current bottling capacity of up to 210 million bottles per annum.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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