ATTBF did a private placement this evening.
Abattis Announces Private Placement
Mar 04, 2014 (ACCESSWIRE via COMTEX) -- Vancouver, BC / ACCESSWIRE / March 4, 2014 / Abattis Bioceuticals Corp. (the "Company" or "Abattis") (otc pink:ATTBF) (cse:ATT), announces a proposed private placement of up to $2,000,000.
Under the terms of the Private Placement, Abattis will issue up to 4,444,444 Units. Each Unit will consist of one Common Share at $0.45 per share, and one full Share Purchase Warrant. One Warrant will be exercisable into one Common Share at a price of $0.50 per Common Share. The expiry date for the exercise of the Warrants will be 18 months after the closing of this Unit Offering. The Warrants will contain an acceleration component whereby Abattis will have the right to call for the exercise of the Warrants if the Common Shares of the Company closes above $0.75 per share for a period of 10 conservative business days after the four month and one day hold period expires.
Proceeds of this offering will be used for acquisitions, joint venture opportunities, research and development, marketing, working capital and general corporate purposes.
The Board of Directors of Abattis wishes to acknowledge the support of investors who have shown confidence in the business plan that Abattis is executing in this exciting new sector of the economy and capital markets.
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