Abattis Bioceuticals (ATT-Cse) PP for Proceeds of up to $6 Million
Dec 15, '17 - NR
Abattis Bioceuticals is undertaking a non-brokered private placement for gross proceeds to the company of up to $6-million.
"After strong demand for our last capital raise, the Company is pleased to announce a second capital raise at a significant increase in valuation" stated Rob Abenante, President and CEO of Abattis. "The Company is encouraged by the strong demand from investors and are excited to rapidly expand the rollout of laboratories and deployment of extraction equipment with strategic partners."
The Company will issue up to an aggregate of up to 13,953,488 units at a price of $0.43 per unit (each a "Unit"). The Company reserves an over-allotment option to increase the Offering by up to 15%. Each Unit consists of one common share (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant is exercisable for one Common Share for a period of three years from the closing date of the Offering at an exercise price of $0.65 per Common Share. In the event that the Company's common shares trade at a price on the Canadian Securities Exchange (the "Exchange") (or such other exchange on which the common shares may be traded at such time) of greater than $0.75 per share for a period of 10 consecutive trading days, the Issuer may accelerate the expiry date of the Warrants by giving notice to the holders thereof (by disseminating a press release advising of the acceleration of the expiry date of the Warrants) and, in such case, the Warrants will expire on the thirtieth day after the date of such notice (the "Acceleration Provision"). Proceeds from the private placement will be for strategic investments, deployment of extraction equipment and general working capital.
About Abattis Bioceuticals Corp.
Abattis is a specialty life sciences and biotechnology company which incubates, integrates, and invests in life science technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.
ON BEHALF OF THE BOARD,
ABATTIS BIOCEUTICALS CORP.,
“Rob Abenante”
Robert Abenante, President & CEO
For more information, please visit the Company’s website at: www.abattis.com or www.northernvinelabs.com
For inquiries, please contact the Company at (604) 336-0881 or at news@abattis.com. |
