Acana Amends Financing Terms to $3.5 Million at $0.35 From $2.5 Million at $0.25
August 08 2017 - 8:00AM
Acana Capital Corp. (CSE:ACM) (FF:711) (the
"Company" or "Acana") announces that due to overwhelming demand,
including significant institutional interest, the terms of the
financing announced July 28, 2017 to be concurrent with the
acquisition of Blockchain Technology Group Inc. (“BIG”) have been
amended. The financing originally announced at $0.25 per share for
gross proceeds of $2.5 million has been increased to $0.35 per
share for gross proceeds of $3.5 million. The financing will be
conducted on a non-brokered basis. The proceeds of the financing
will be used for the acquisition and funding of BIG as announced
July 28, 2017.
The Company also announces that it has appointed
Kevin Ma to the Company’s Board of Directors. Mr. Ma was
recently appointed as Chief Financial Officer of the Company on
July 28, 2017.
The increase in the financing size and price was
made in the context of the market following the announcement of the
transaction with BIG and “due to the unprecedented interest
in BIG and the fact that Acana offers investors one of the very few
avenues to publicly invest in the space which has driven demand for
the financing and motivated the Company to upsize the financing to
accommodate the sophisticated and institutional investors,” stated
Kevin Ma, Acana Chief Financial Officer and Director.
A finder’s fee will be paid to qualified finders
in connection with the financing. Closing of the financing and any
associated fees are subject to regulatory approval.
ON BEHALF OF THE BOARD
“Kevin
Ma”___________________________
Kevin Ma, CFO and Director
Certain statements contained in this release may
constitute "forward–looking statements" or "forward-looking
information" (collectively "forward-looking information") as those
terms are used in the Private Securities Litigation Reform Act of
1995 and similar Canadian laws. These statements relate to future
events or future performance. The use of any of the words “could”,
“intend”, “expect”, “believe”, “will”, “projected”, “estimated”,
“anticipates” and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward-looking information and are based on the Company’s current
belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. In particular,
this release contains forward-looking information relating to the
business of the Company, financing and certain corporate changes.
The forward-looking information contained in this release is made
as of the date hereof and the Company is not obligated to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
These securities have not and will not be
registered under United States federal or state securities laws and
may not be offered or sold in the United States or to a U.S. Person
unless so registered, or an exemption from registration is relied
upon. This news release does not constitute an offer of securities
for sale in the United States.
Spiros Kletas
Skanderbeg Capital Advisors
(604) 687-7130 x 203
spiro@skanderbegcapital.com
AECOM (NYSE:ACM)
Historical Stock Chart
From Aug 2024 to Sep 2024
AECOM (NYSE:ACM)
Historical Stock Chart
From Sep 2023 to Sep 2024