05:33:41 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Osoyoos Cannabis Inc
Symbol OSO
Shares Issued 30,705,183
Close 2020-07-20 C$ 0.075
Market Cap C$ 2,302,889
Recent Sedar Documents

Osoyoos closes second tranche of placement

2020-07-20 17:08 ET - News Release

Mr. Graham Simmonds reports

OSOYOOS CLOSES TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Osoyoos Cannabis Inc. has closed a second tranche of its previously announced non-brokered private placement of up to 20 million units of the company, at a price of five cents per unit, for gross proceeds of up to $1-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each full warrant will entitle the holder to acquire one additional common share for a period of 24 months from the date of issuance at a price of 15 cents per common share. Furthermore, the company will have the right to accelerate the expiry date to be 30 days following written notice to the holders, if during the term of the warrants the common shares close at or above 20 cents per common share on each trading day for a period of 10 consecutive trading days on the Canadian Securities Exchange. Proceeds from the private placement are expected to be used for general working capital needs.

On July 20, 2020, the company closed a second tranche of the private placement and issued 8.5 million units of company, at a price of five cents per unit, for gross proceeds of $425,000. As of the date hereof, the company has issued an aggregate of 10 million units pursuant to the private placement.

All common shares and warrants sold under the private placement will be subject to a statutory four-month-and-one-day hold period. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, and there shall be no sale or exchange of the company's securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.

About Osoyoos Cannabis Inc.

Osoyoos Cannabis has a joint venture agreement with a private, vertically integrated licensed producer under the Cannabis Act (Canada) to offer contract tolling extraction services to third party businesses. Additionally, the company recently acquired 1196691 B.C. Ltd., doing business as PCAI Pharma, and its wholly owned subsidiary, AI Pharmaceuticals Jamaica Ltd., a private corporation incorporated and operating under the laws of Jamaica.

We seek Safe Harbor.

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