Boosh Plant-Based Brands Inc (CSE:VEGI, OTC:VGGIF) has announced a non-brokered private placement to raise up to C$2 million by issuing up to 2,857,142 company units at a price of $0.70 per unit.
Boosh said net proceeds from the financing will be used for general working capital purposes.
Each unit of the offering will comprise one common share plus one share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share at a price of $1 per share for a period of 36 months.
READ: Boosh Plant-Based Brands provides updates relating to distribution of its recently acquired Beanfields brand
The company noted that its directors and officers may acquire units in the financing.
It added that finder's fees may be paid to registered dealers or other qualified parties in connection with the financing, which includes 8% units and 8% broker warrants or 8% cash and 8% broker warrants.
As well, Boosh said it reserves the right to increase the number of units in the financing to as many as 3,571,428 company units for up to C$2.5 million in gross proceeds.
Boosh Plant-Based Brands, through its wholly-owned subsidiary Boosh Food, offers high-quality, non-GMO, gluten-free, 100% plant-based nutritional comfort foods for the whole family.
It currently offers 24 plant-based SKUs (Stock Keeping Units) ranging from frozen meals, to refrigerated entrees to shelf-stable Mac & Cheezes, and are sold throughout Canada.
Contact Sean at sean@proactiveinvestors.com