Cannabis company Xebra Brands Ltd. (CSE:XBRA) (OTCQB:XBRAF) (FSE: 9YC) plans to raise up to CAD$1.2 million via a non-brokered private placement.
The private placement is for up to 10 million units at a price of CAD$0.12 per unit. Each unit is comprised of one common share of Xebra, and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one share at a price of CAD$0.25 for a period of 12 months from the closing date of the private placement.
Finders' Fees of 7% in cash or shares may be paid in connection with the private placement in accordance with the policies of the Canadian Securities Exchange. The private placement is subject to approval by the CSE.
Xebra intends to use the proceeds of the private placement for general working capital purposes.
