00:27:37 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Vert Infrastructure Ltd
Symbol VVV
Shares Issued 11,446,090
Close 2020-01-28 C$ 0.165
Market Cap C$ 1,888,605
Recent Sedar Documents

Vert Infrastructure arranges $1-million financing

2020-01-29 08:54 ET - News Release

Mr. Arif Merali reports

VERT TO LOOK AT MUSHROOM OPPORTUNITIES AND ANNOUNCES $0.10 NON-BROKERED UNIT PRIVATE PLACEMENT

Vert Infrastructure Corp. has entered into a proposed non-brokered private placement offering to raise $1-million by the issuance of 10 million units at a price of 10 cents per unit on the terms as further set out below.

Offering

Each unit of the offering will comprise one common share in the capital of the company and one common share purchase warrant with each warrant being exercisable at a price of 15 cents per warrant for a period of 24 months from the date of issuance.

All securities issued in connection with the offering will be subject to a four-month-and-a-day hold period. As compensation for the services provided in connection with the offering, certain eligible finders will receive a cash commission equal to 10 per cent of the gross proceeds raised in the offering from purchasers directly introduced to the company by the finders.

Management anticipates that the company will allocate the net proceeds of the offering as follows: 50 per cent for paying down existing defaults and debts as noted in the company's press release of Jan. 10, 2019, 10 per cent for legal and accounting, 20 per cent to develop the company's investments including potential investments in to the mushroom business, 20 per cent toward general working capital.

About Vert Infrastructure Corp.

Vert Infrastructure is engaged in the business of branding, investing, constructing, owning and leasing infrastructure for certain licenced or permitted specialty agricultural businesses.

We seek Safe Harbor.

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