XBRAF - Xebra Announces Private Placement

Canada NewsWire

VANCOUVER, BC , Feb. 25, 2022 /CNW/ - Xebra Brands Ltd. ("Xebra") (CSE: XBRA) (OTCQB: XBRAF) (FSE: 9YC) , a cannabis company, is pleased to announce a non-brokered private placement (the "Private Placement") for gross proceeds of up to CAD$1,200,000 .

The Private Placement is for up to 10,000,000 units at a price of CAD$0.12 per unit. Each unit is comprised of one common share of Xebra (a "Share"), and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.25 for a period of 12 months from the closing date of the Private Placement.

Finders' Fees of 7% in cash or shares may be paid in connection with the Private Placement in accordance with the policies of the Canadian Securities Exchange (the "CSE"). The Private Placement is subject to approval by the CSE.

Xebra intends to use the proceeds of the Private Placement for general working capital purposes.

ON BEHALF OF THE BOARD,

Rodrigo Gallardo
President

For more information contact:

+1 (604) 418-6560
ir@xebrabrands.com

Certain information contained in this press release constitute forward-looking statements under applicable securities laws. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, these include, without limitation, statements regarding Xebra Brands Ltd.'s expectations in respect of its ability to successfully close the above referenced private placement. Readers are cautioned that forward-looking statements are not guarantees of future performance and readers should not place undue reliance on such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those set out in such statements.

SOURCE Xebra Brands Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2022/25/c1532.html