Else Nutrition prospectus offering, warrant listing
2021-10-25 23:55 ET - Prospectus Approved
Effective April 21, 2021, the company's short form base shelf prospectus dated April 20, 2021, was filed with TSX Venture Exchange, and filed with and receipted by the British Columbia Securities Commission and the Ontario Securities Commission. The prospectus qualifies the public distribution of units of the company, the material terms of which are described below, and has been filed under Multilateral Instrument 11-102, Passport System, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador. A receipt for the prospectus is deemed to be issued by the regulator in each of those jurisdictions, if the conditions of the instrument have been satisfied.
The TSX Venture Exchange has been advised that closing of the offering occurred on Oct. 20, 2021, for gross proceeds of $17,307,500 (including the exercise of overallotment option as described below).
Agents: Stifel Nicolaus Canada Inc., Canaccord Genuity Corp. and Eight Capital
Offering: seven million units (Each unit consists of one common share and one-half of one common share purchase warrant. Each unit warrant will entitle the holder to acquire one common share.)
Unit price: $2.15 per unit
Unit warrant exercise price/term: $2.70 per share to Oct. 20, 2026
Underwriters' compensation: an aggregate fee of $902,471 as a cash commission and an aggregate issuance of 423,940 non-transferable broker warrants (Each broker warrant entitles the holder to purchase one common share at a price of $2.15 per common share until Oct. 20, 2023.)
Finder's fee: 23,255 non-transferable finder warrants payable to A-Labs Finance and Advisory Ltd. (Each finder warrant is exercisable to purchase one common share at a price of $2.70 per common share until Oct. 20, 2026.)
Overallotment option: The overallotment option was exercised in full at closing, resulting in the issuance of 1.05 million additional units, representing 15 per cent of the aggregate number of units offered under the prospectus and granted to cover the underwriter's overallocation position, on the same terms as those issued in the offering.
New listing -- warrants
Effective at the opening on Oct. 27, 2021, the unit warrants will commence trading on the TSX Venture Exchange. The company is classified as a consumer packaged goods company.
Corporate jurisdiction: British Columbia
Capitalization: 4,025,000 warrants issued and outstanding
Transfer agent: Computershare Trust Company of Canada
Trading symbol: BABY.WT.A
Cusip No.: 290257 12 0
The unit warrants were issued pursuant to the company's offering. One unit warrant entitles the holder to purchase one common share at a price of $2.70 per share and will expire on Oct. 20, 2026.
For further information, please refer to the company's short form base shelf prospectus dated April 20, 2021, and its prospectus supplement dated Oct. 15, 2021.
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