XBRAF - Cannabis Opportunity: Xebra Brands Announces $1M Non-Brokered Private Placement Deal | Benzinga
Cannabis company Xebra Brands Ltd. (CSE: XBRA) (OTCQB: XBRAF) (FSE: 9YC0) announced on Monday that it plans to complete a non-brokered private placement in the aggregate amount of up to CA$1 million ($733,898) according to a binding commitment from a strategic investor.
The company intends to issue up to 12 million units at CA$0.05 per unit for gross proceeds of up to CA$600,000 and a concurrent placement of up to a principal amount of CA$400,000 of unsecured convertible debenture units.
The Details
Under the commitment, the strategic investor will have the right to appoint one director to become a member of the company's board of directors and will also be entitled to appoint a person as a board observer to board meetings.
Each unit will ...