LeanLife Health: Closing Private Placement
February 08 2019 - 3:37PM
LeanLife (the “Company”) announces that it is
closing a second tranche of its previously announced non-brokered
Private Placement and is issuing a total of 22.,920,000 units at a
price of $0.05 per unit for an aggregate of $1,146,000 of which
$465,000 was issued as shares for debt to current debt holders.
Each unit consists of one common share and one share purchase
warrant for an additional share at $0.075 per share for three years
from the date of issuance. In connection with the placement the
Company had provided for finder’s fees of up to 10% payable in
cash. Total finder’s fees are $22,000.
About LeanLife Health and the Omega 3
Market
LeanLife Health’s products are shelf-stable
extractions from flax seed, a plentiful and nonanimal source of
Omega-3, that give them a significant advantage as a fortified food
ingredient.
The products can be used as food additives or as
nutraceuticals and have been used to make bread, noodles, cheese,
yogurt, juice and milk products for the European market.
LeanLife Health’s industry leading Omega-3
product formulations are of the highest quality and contain no
cholesterol. Products are available in oil, emulsion and powder
forms.
The global Omega-3 market reached $33 Billion
USD in 2016 and is expected to reach upwards of $57 Billion USD by
2025, according to a report by Grand View Research, Inc.
For more information, please contact:Stan Lis,
CEOTel: 604 764-0518E-mail: slis@leanlifehealth.com
Forward Looking Information
Information set forth in this news release
contains forward-looking statements that are based on assumptions
as of the date of this news release. These statements reflect
management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance. The
Company cautions that all forward looking statements are inherently
uncertain and that actual performance may be affected by a number
of material factors, many of which are beyond the Company's control
including, the Company's ability to compete with large food
companies; sales of any potential products developed will be
profitable; the ability to complete sales under the sales
agreement. Accordingly, actual and future events, conditions and
results may differ materially from the estimates, beliefs,
intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR
DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
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