Laguna Blends Over Subscribes Private Placement and Closes the Second Tranche of Private Placement for 5,537,800 Units for To...
November 03 2016 - 8:00AM
Access Wire
KELOWNA, BC / ACCESSWIRE / November 3, 2016 /
Laguna Blends, Inc. (CSE: LAG) (OTC: LAGBF) (Frankfurt: LB6A.F)
(the "Company" or "Laguna") is pleased to announce a second tranche
closing of its it non-brokered private placement (the "Private
Placement"). The second tranche closing consisted of the issuance
of 5,537,800 units at a price of $0.25 per unit for gross proceeds
of $1,384,450. Laguna oversubscribed the private placement for a
total of $1,791,250. Each unit consists of one common share and one
share purchase warrant, each warrant entitling the holder to
acquire one additional common share of the Company at a price of
$0.40 per warrant share for a period of twelve months.
All securities issued under the second tranche are subject to a
hold period expiring four months and one day from the date of
issuance. In connection with the private placement, the company
paid a cash or shares finder's fee of up to seven per cent.
Bryan Loree, CFO of Laguna Blends said, "The demand of the
Laguna private placement is a testament that Laguna is working hard
to deliver shareholder value. The additional capital will ensure
that Laguna can continue to deliver on its business strategy."
About Laguna Blends Inc.
Laguna is engaged in development, sales, marketing and
distribution of hemp based products and solutions. We specialize in
identifying emerging trends and opportunities such as Cannabidiol
(CBD), one of the most useful compounds found in the hemp
plant.
Laguna generates retail sales through a proprietary, online,
social media platform, driven by affiliates. Laguna currently
markets products in the USA and Canada. In addition, Laguna is
seeking joint ventures, acquisitions and wholesale distribution
opportunities in the hemp and CBD industry. Laguna is planning an
aggressive international expansion into Asia and Europe in 2017.
Laguna offers both hemp and CBD related products.
Laguna is currently seeking joint ventures and acquisitions to
expand its portfolio and will aggressively begin international
expansion into Asia and Europe in 2017.
ON BEHALF OF THE BOARD
"Stuart Gray"
Chief Executive Officer
CORPORATE COMMUNICATIONS:
Howe & Bay
Suite 600 - 535 Howe St.
Vancouver BC
V6C 2Z4
1.604.449.5302
COMPANY:
Laguna Blends
ir@lagunablends.com
www.lagunablends.com
https://cbdskincream.com/
Join Us On Face Book: https://www.facebook.com/LagunaBlends/
Twitter: @LagunaBlends
Forward-Looking Information:
This news release contains "forward-looking information" within
the meaning of applicable securities laws relating to statements
regarding the Company's business, products and future the Company's
business, its product offerings and plans for sales and marketing.
Although the Company believes that the expectations reflected in
the forward looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. Readers
are cautioned to not place undue reliance on forward-looking
information. Such forward looking statements are subject to risks
and uncertainties that may cause actual results, performance and
developments to differ materially from those contemplated by these
statements depending on, among other things, the risks that the
Company's products and plan will vary from those stated in this
news release and the Company may not be able to carry out its
business plans as expected. Except as required by law, the Company
expressly disclaims any obligation, and does not intend, to update
any forward looking statements or forward-looking information in
this news release. Although the Company believes that the
expectations reflected in the forward looking information are
reasonable, there can be no assurance that such expectations will
prove to be correct and makes no reference to profitability based
on sales reported. The statements in this news release are made as
of the date of this release. None of the statements contained in
this news release are health claims and the FDA has not evaluated
these claims. Laguna's products and proposed products are not
intended to diagnose, treat, cure or prevent any disease.
SOURCE: Laguna Blends, Inc.
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