09:56:18 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Chemesis International Inc (2)
Symbol CSI
Shares Issued 34,620,824
Close 2020-07-08 C$ 0.79
Market Cap C$ 27,350,451
Recent Sedar Documents

Chemesis Int'l closes $2.61-million private placement

2020-07-09 08:48 ET - News Release

Mr. Josh Rosenberg reports

CHEMESIS INTERNATIONAL INC. CLOSES PRIVATE PLACEMENT

Further to its news releases dated May 19, 2020, and May 21, 2020, Chemesis International Inc. has completed its non-brokered private placement resulting in a total issuance of 5,235,300 units at a price of 50 cents per unit for gross proceeds totalling $2,617,650.

Each unit consisted of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional common share of the company at a price of $1 per warrant share for a period of 24 months following issuance.

The company has paid finders' fees totalling $35,000 and issued an aggregate of 70,000 finder's warrants to an arm's-length party. Each finder's warrant is exercisable into one common share in the capital of the company until July 3, 2022.

All securities issued are subject to a statutory hold period of four months from the date of issue, in accordance with applicable securities legislation, expiring Nov. 4, 2020. The proceeds from the private placement offering are intended for general working capital.

In addition, further to its news release dated June 2, 2020, the company announces it has settled its previously announced outstanding accounts payable liabilities. An aggregate of $671,800 and $1,077,378 (U.S.) have been satisfied through the issuance of 2,233,218 common shares in the capital of the company, effective June 2, 2020. The common shares issued in connection with the debt settlements also are subject to a statutory hold period of four months from the date of issue, in accordance with applicable securities legislation, expiring Oct. 3, 2020.

About Chemesis International Inc.

Chemesis focuses on prudent capital allocations to ensure it maintains second mover advantage as it enters new markets with a proven lift-and-shift consumer-focused model.

We seek Safe Harbor.

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