Tickers: XTSX:CBM.H
Tags: Mining
January 3, 2018 / TheNewswire / Vancouver, British Columbia - CBD Med Research Corp. (NEX: CBM.H) (the "Company") is pleased to announce that it has closed its non-brokered private placement, previously announced on November 17, 2017.
The Company has raised $600,000 through the issuance of 4,000,000 units (the "Units") at a price of $0.15 per Unit (the "Offering"). Each Unit is comprised of one common share and one half of one transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one additional common share at a price of $0.25 for a period of 12 months from the date of issuance.
All of the securities are subject to a four month hold period from the date of closing. The Company intends to use a portion of the proceeds from the Offering to settle various debts and for general working capital. The Company has agreed to pay cash finder's fees of $7,738.50.
The Company did not proceed with the proposed extension previously announced of 1,476,012 share purchase warrants. The 1,476,012 warrants expired December 19, 2017.
ON BEHALF OF THE BOARD
"Gary F Zak"
Gary F. Zak, Chief Executive Officer
For further information, please contact: Gary Zak gzak1@shaw.ca or 604-802-7551
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Notes Regarding Forward-looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "will", "intend", "is expected to", "anticipates" and variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements.
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