16:01:22 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Nutritional High International Inc
Symbol EAT
Shares Issued 141,942,514
Close 2016-10-26 C$ 0.215
Market Cap C$ 30,517,641
Recent Sedar Documents

Nutritional High arranges $3-million private placement

2016-10-26 15:24 ET - News Release

Mr. David Posner reports

NUTRITIONAL HIGH ANNOUNCES $3 MILLION PRIVATE PLACEMENT

Nutritional High International Inc. is undertaking a non-brokered private placement of up to 20 million units of the company at a price of 15 cents per unit for aggregate gross proceeds of up to $3-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 22 cents per common share for a period of 18 months from the closing date.

The company has engaged First Republic Capital Corp. as the lead finder for the offering. Finders will be paid a cash fee of up to 6 per cent of the gross proceeds raised in the offering. Additionally, finders will receive compensation options exercisable for units equal in number up to 6 per cent of the number of units sold under the offering. The compensation options will be exercisable at a price of 15 cents per unit for a period of 18 months after the closing of the offering. First Republic will be paid a corporate finance fee equal to 2 per cent of the gross proceeds raised in the offering and that number of compensation options equal to 2 per cent of the number of units sold under the offering. Foundation Markets Inc. and BMS Capital Corp. intend to participate as selling group members.

All securities issued in connection with the offering will be subject to a four-month hold from the date of issuance in accordance with applicable securities laws. The closing of the offering is subject to receipt of approvals of the Canadian Securities Exchange and other applicable securities regulatory authorities.

The net proceeds from the offering will be used by the company to finance expansion in U.S. states (other than Colorado and Illinois) where regulations permit, additional product development and general working capital. The offering is expected to close on or about Nov. 4, 2016, or such other date to be determined by the company.

About Nutritional High International

Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the hemp and marijuana-infused products industries, including edibles and oil extracts for nutritional, medical and adult recreational use.

We seek Safe Harbor.

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