Mr. Matt Kaine reports
BIG ROCK LABS ANNOUNCES PROPOSED PRIVATE PLACEMENT OF UNITS
Big Rock Labs Inc. has approved a non-brokered private placement to offer up to 1.5 million units at a price of 20 cents per unit for gross proceeds of up to $300,000.
Each unit will consist of one common share and one warrant exercisable to purchase one additional common share at a price of 26 cents per share for a period of five years after the issuance date.
The company plans to close this financing by end of business on Oct. 9, 2015. 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 will be subject to a four-months-and-one-day resale restriction following the date of distribution under applicable Canadian provincial securities laws.
We seek Safe Harbor.
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