Dr. Zaki Rakib reports
CANNA-V-CELL SCIENCES INC. ANNOUNCES PRIVATE PLACEMENT
Canna-V-Cell Sciences Inc. intends to complete a private placement of up to 6,666,667 units at a price 15 cents per unit for total proceeds of up to $1-million. Each unit will consist of one common share of the company and one non-transferable share purchase warrant. Each warrant will be exercisable to purchase an additional common share at a price of 30 cents per share for a period of two years from closing of the private placement.
The company will pay commissions of 5 per cent to registered investment dealers and brokers or to finders in jurisdictions where permitted by law.
With the completion of the development program well in sight, the company is turning its attention to the next important steps in order to fulfill its full potential. To this end, the company will use the funds to expand research and development, to plan for manufacturing and production of cannabis cells powder based on the breakthrough biofarming technology. In addition, the company wishes to reinforce its business development activities to reach potential customers and partners.
About Canna-V-Cell Sciences Inc.
Based in Vancouver, B.C., Canna-V-Cell is the exclusive cannabis worldwide licensee of the proprietary and patent protected BioHarvest technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing the active plant ingredients without the necessity to grow the plant itself. By adopting this technology and building adequate cells production capacity, Canna-V-Cell's objective is to become the leading supplier of cannabis for both the medicinal and recreational legal use.
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