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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (37259)	12/7/2017 9:30:42 AM
From: Goose94	Read Replies (2) \| Respond to of 202931

Cannabix Technologies (BLO-Cse) Closes $4.6 Million Bought Deal Private Placement and $977,500 Concurrent Non-Brokered Private Placement Dec 7, '17 - NR Cannabix Technologies is pleased to announce that it has closed its private placement of 4,000,000 units (“Units”) of the Company at a price of $1.15 per Unit (the “Offering Price”), for aggregate gross proceeds of $4.6 million (the “Offering”). Each Unit consists of one common share of the Company (a “Common Share”) and one common share purchase warrant, each warrant entitling the holder to purchase one additional Common Share at an exercise price of $1.60 for a period of three years following closing. The Offering was underwritten by Cormark Securities Inc. (the “Underwriter”), which exercised in full its option to purchase up to an additional 500,000 Units at the Offering Price. In connection with the Offering, the Underwriter received a cash commission of $276,000 and 240,000 broker warrants (the “Broker Warrants”), each Broker Warrant entitling the holder to purchase one Unit at the Offering Price for a period of two years following closing. Non-Brokered Private Placement In addition, the Company is pleased to announce that it has closed a concurrent non-brokered private placement (the “Concurrent Private Placement”) of 850,000 units at the Offering Price, for aggregate gross proceeds of $977,500. The units issued pursuant to the Concurrent Private Placement were issued on substantially the same terms as the Units issued under the Offering. The Company intends to use the net proceeds from the Offering and the Concurrent Private Placement to fund research and development related to its cannabis breathalyzer technologies and for working capital and general corporate purposes. All securities issued in connection with the Offering and the Concurrent Private Placement are subject to a statutory hold period expiring four months and one day after December 7, 2017. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state laws and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available. About Cannabix Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC - the psychoactive component of marijuana that causes intoxication - using breath samples. In Particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects use days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where intoxication by THC can be hazardous. On behalf of the Board of Directors of Cannabix Rav Mlait CEO & Director Cannabix Technologies Inc. For further information about Cannabix Technologies Inc. or this news release, please visit our website at www.cannabixtechnologies.com or contact the Company at info@cannabixtechnologies.com.