Eurolife also announced that, due to high demand, it has increased its non-brokered private placement to 18.5 million units at C$0.20 each to raise up to C$3.7 million
Eurolife Brands Inc () (OTCPINK:EURPF) said it will commence trading under its new company name -- Plant & Co Brands Ltd and ticker symbol VEGN -- effective at market opening on December 4.
In addition, Eurolife announced Thursday that, due to high demand, it has increased its non-brokered private placement to 18.5 million units at C$0.20 each to raise up to C$3.7 million in gross proceeds.
Each unit will consist of one common share and one transferable common share purchase warrant, with each warrant exercisable into shares of the company at C$0.25 each for two years from the date of closing.
READ: EuroLife Brands strikes deal to acquire popular cereal brand Holy Crap of Dragon's Den fame
Eurolife said in a statement that it intends to use the net proceeds for merger and acquisition activities and opportunities and general working capital. All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada. Finders' fees may be payable to qualified parties.
Vancouver-based EuroLife is a vertically integrated company focused on the health and wellness sector.
The company’s stock recently traded up by 24% to US$0.34 a share in New York and by 7.5% to C$0.43 a share in Canada.
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