16:41:23 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Nutritional High International Inc
Symbol EAT
Shares Issued 308,848,171
Close 2019-05-01 C$ 0.22
Market Cap C$ 67,946,598
Recent Sedar Documents

Nutritional High arranges $3-million private placement

2019-05-01 09:56 ET - News Release

Mr. David Posner reports

NUTRITIONAL HIGH ANNOUNCES UP TO $3,000,000 BROKERED PRIVATE PLACEMENT FINANCING

Nutritional High International Inc. has engaged Haywood Securities Inc. to act as lead agent and sole bookrunner, along with Foundation Markets Inc., to sell, by way of a private placement and on a reasonable efforts agency basis, up to 15 million units of the company at a price of 20 cents for aggregate gross proceeds of up to $3-million. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of 30 cents for a period of 36 months from the date of closing of the offering. The term of the warrants is subject to an acceleration right, exercisable at any time at the option of the company, in the event that the common shares trade at or above 60 cents per common share for 20 consecutive trading days at any time after the date which is four months and one day from the closing date. The company will provide warrantholders with a 30-day prior written notice of the accelerated warrant expiry date.

The company has agreed to grant the agents an option to offer for sale up to an additional 15 million units at the issue price by Haywood, on behalf of the agents, providing notice to the company at any time up to 48 hours prior to the closing date.

In connection with the offering, the agents will be paid a cash commission equal to 8 per cent of the gross proceeds of the offering. Upon closing, the agents will also receive compensation options in a number equal to 8 per cent of the number of units sold under the offering. Each compensation unit comprises one common share and one common share purchase warrant. Each compensation unit warrant shall entitle the holder thereof to acquire one common share at a price equal to the issue price for a period of 36 months from the date of closing of the offering.

The offering is subject to receipt of all necessary regulatory approvals, including the approval of the Canadian Securities Exchange. All securities issued pursuant to the offering will be subject to a four-month-and-one-day hold period from the date of closing, in accordance with applicable Canadian securities laws.

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.

Nutritional High has brought its flagship FLI edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado, where its FLI products are manufactured by a third party licensed producer. In California, the company distributes its products and products manufactured by other leading producers through its wholly owned distributor, Calyx Brands, and is entering the Nevada, Washington State and Canadian markets in the near future.

We seek Safe Harbor.

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