SUN.c Wildflower arranges $433,332 private placement
2016-05-09 20:21 ET - News Release
Mr. William MacLean reports
WILDFLOWER ANNOUNCES PRIVATE PLACEMENT
Wildflower Marijuana Inc. has arranged a private placement of up to 4,333,327 units at a price of 10 cents per unit for aggregate gross proceeds of $433,332.
Each unit shall consist of one common share of the issuer and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of the company at a price of 15 cents for a period of 24 months following the closing date of the private placement. Once resale restrictions on the shares have expired, and upon the company's shares trading at or above a weighted average trading price of 60 cents for 30 consecutive trading days, Wildflower may give notice that the warrants will expire 30 days from the date of providing such notice (in writing to warrantholders and via news release). The proceeds will be used for inventory, product development and working capital. The financing is subject to regulatory approval. All securities issued pursuant to the placement will be subject to a hold period of four months and one day from the date of closing.
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