On October 7, GreenSpace Brands Inc., a developer and seller of premium natural food products, announced that it has amended the terms of its previously announced non-brokered equity financing to offer up to $2 million in units at a subscription price of $1.05 per unit, each unit comprised of one common share in the capital of the GreenSpace and one quarter of a warrant.
Each whole Warrant will be exercisable for one Common Share at an exercise price of $1.20 for a period of 24 months from the date of issuance. Net proceeds of the equity financing will be used for the acquisition of Love Child Inc. and general working capital purposes. Completion of the equity financing is subject to customary conditions including TSX Venture Exchange approval.
All securities issued pursuant to the equity financing will be subject to a hold period of four months and one day in accordance with applicable Canadian securities laws. The equity financing is expected to close in one or more tranches over the next few weeks. Finders fees of up to 8per cent may be payable on certain of the subscriptions received.
