Nabis Holdings Inc. (CSE:NAB) has announced the closing of the second and final tranche of a non-brokered private placement for gross proceeds of $155,000.
The second and final tranche saw the issuance of 775,000 common shares in the capital of the company at a price of $0.20 per common share.
The company said the net proceeds raised from the offering will be used for working capital and general corporate purposes.
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The securities issued upon closing of the offering will be subject to a hold period of four months plus a day from the date of closing under applicable securities laws.
The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
Nabis Holdings invests in assets across multiple industries, including real property and the US and international cannabis sector.
Contact the author at jon.hopkins@proactiveinvestors.com