11:06:09 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Benchmark Botanics Inc
Symbol BBT
Shares Issued 137,947,974
Close 2018-09-10 C$ 0.61
Market Cap C$ 84,148,264
Recent Sedar Documents

Benchmark Botanics closes $2-million private placement

2018-09-11 11:26 ET - News Release

Mr. Ping Zhang reports

BENCHMARK BOTANICS ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Benchmark Botanics Inc. closed its non-brokered private placement for aggregate gross proceeds of $2-million with an arm's-length party on Sept. 10, 2018.

The private placement involved the sale of 2,666,667 units at a price of 75 cents per unit. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant shall be exercisable into one share at a price of $1.20 for a period of 24 months from the closing date of the private placement. All of the units, shares and warrants will be subject to a restricted period of four months and one day from the date of closing of the private placement. The investor has the option to subscribe for an additional 2,666,666 units on or before the day that is five business days after the closing date of the initial subscription at a subscription price of 75 cents per unit.

The company intends to use the net proceeds from the sale of the units for general working capital purposes and the costs of setting up the company's extraction operations. The private placement is subject to acceptance by the Canadian Securities Exchange.

About Benchmark Botanics Inc.

Benchmark is a publicly traded company based out of Vancouver, B.C., positioned to provide financing, partnership opportunities and acquisition offers to licensed producers and ancillary businesses within the global cannabis industry.

In November, 2017, the company acquired its first subsidiary, Potanicals Green Growers. Potanicals Green Growers possesses a Health Canada licence to cultivate and sell cannabis as an ACMPR licensed producer.

We seek Safe Harbor.

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