Cannabis Opportunity: Xebra Brands Announces $1M Non-Brokered Private Placement Deal
Portfolio Pulse from Jelena Martinovic
Cannabis company Xebra Brands Ltd. plans to complete a non-brokered private placement of up to CA$1 million ($733,898) according to a binding commitment from a strategic investor. The company will issue up to 12 million units at CA$0.05 per unit and a concurrent placement of up to a principal amount of CA$400,000 of unsecured convertible debenture units. The strategic investor will have the right to appoint one director to the company's board and a board observer. The closing of the unit offering will be on or about October 6, 2023.
October 03, 2023 | 6:22 pm
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Xebra Brands Ltd. is raising up to CA$1 million through a non-brokered private placement. This could provide the company with additional capital for growth and expansion, but it may also dilute existing shareholders.
The private placement could provide Xebra Brands with additional capital for growth and expansion. However, the issuance of new shares could dilute the holdings of existing shareholders, potentially leading to a decrease in the stock price. The strategic investor's right to appoint a director and a board observer could also influence the company's future direction.
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