Boosh Plant-Based Brands Inc (CSE:VEGI, OTC:VGGIF) said it has closed the final tranche of its non-brokered private placement generating further gross proceeds of $433,569.50.
The company said the proceeds of the financing will be utilized for general working capital, as well as ongoing product development and future plant-based acquisition opportunities.
The company issued 619,385 units at a price of $0.70 per unit, with each unit is comprised of one common share and one share purchase warrant.
Each whole warrant will entitle the holder to acquire an additional common share at a price of $1.00 per share until March 31, 2025.
READ: Boosh Plant-Based Brands to raise up to C$2M in a non-brokered private placement
Boosh noted that finder's fees of $29,660.40 in cash and 39,762 warrants were paid in association with the closing of the initial tranche.
All securities issued in this final tranche of the private placement are subject to a four-month and one-day hold period expiring on August 1, 2022.
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 or for the account or benefit of a US person (as defined in Regulation S under the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
Through a separate subsidiary, Beautiful Beanfields, the company owns Beanfields, a plant-based chips brand sold in over 7,000 stores throughout North America.
Contact the author at jon.hopkins@proactiveinvestors.com