Bhang Inc. (CSE: BHNG) BHNGF 12% said Monday that it has obtained a commitment from its long-term investor Cannabis Growth Opportunity Corporation (CSE: CGOC) to invest up to CA$1.5 million ($1.13 million) in a private placement offering of units.
Each unit consists of one subordinate voting share in the capital of the company and one share purchase warrant exercisable into one share, according to the press release.
Bhang can quicken the expiry of the warrants to 30 days upon notifying the holder if the shares have a closing price of CA$0.25 per share or higher for 10 consecutive trading days on the Canadian Securities Exchange.
Published: February 11, 2020
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