FNNZF - FinCanna Capital increases private placement financing to C$2.5M

FinCanna Capital (OTCQB:FNNZF) on Monday increased its non-brokered private placement financing from C$2M to C$2.5M. FNNZF will issue up to 25M units at C$0.10 apiece for total proceeds of up to C$2.5M. Each unit will consist of 1 FinCanna share and 1 share purchase warrant. Each warrant will be exercisable to acquire 1 share at an exercise price of C$0.20 for 24 months from the closing of the private placement. FNNZF intends to use the net proceeds to fund the launch of the new "manufacturer to retail" revenue strategy and ongoing working capital purposes. The private placement is expected to close on or about Apr. 28.

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FinCanna Capital increases private placement financing to C$2.5M