Mr. Harald Seemann reports
BIG ROCK LABS CLOSES PRIVATE PLACEMENT OF UNITS
Big Rock Labs Inc. has successfully closed its non-brokered private placement announced on Oct. 17, 2014, and on Oct. 23, 2014. The company has raised gross proceeds of $301,000 through the issuance of 430,000 units at a price of 70 cents per unit.
Each unit consists of one common share and one warrant exercisable to purchase one additional common share at a price of $1 per share for a period of five years after the issuance date.
Big Rock plans to use the proceeds from the private placement for product development, sales and marketing, acquisitions, and general working capital purposes.
The shares and any warrant shares issued upon exercise of the warrants are subject to a four-month-and-one-day resale restriction following the date of distribution under applicable Canadian provincial securities laws.
We seek Safe Harbor.
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