16:36:21 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Arev Nanotec Brands Inc
Symbol AREV
Shares Issued 16,957,807
Close 2021-01-25 C$ 0.325
Market Cap C$ 5,511,287
Recent Sedar Documents

Arev Nanotec arranges $725,000 private placement

2021-01-25 17:27 ET - News Release

Mr. Mike Withrow reports

AREV NANOTEC BRANDS INC. ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT

Arev Nanotec Brands Inc. has arranged a $725,000 private placement with strategic investors. The non-brokered private placement will consist of up to 2.9 million units of the company at a price of 25 cents per unit, for gross proceeds of up to $725,000. Each unit will consist of one common share and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share of the company at a price of 28 cents per share, at any time on or before 5 p.m. (Vancouver time) on the date that is 24 months from the date of issuance of the warrants; except that, if over a period of 10 consecutive trading days between the date that is four months and a day from the date of issuance of the warrants and the date that the warrants would otherwise expire, the closing price of the company's common shares on the Canadian Securities Exchange (or such other stock exchange where the majority of the trading volume for the company's common shares occurs) is at or exceeds 75 cents, then the company may, at its option, provide written notice to the warrantholders to exercise their warrants within 30 days of the date of the notice, failing which the warrants will expire.

Securities issued by the company pursuant to the financing will be subject to a four-month-and-one-day hold period in Canada commencing on the closing date. The net proceeds from the financing will be used for general working capital, product development and distribution purposes.

Finders' fees may be paid in cash, shares or warrants, or a combination of the forgoing, subject to the board approval and in accordance with the policies of the CSE.

About Arev Nanotec Brands Inc.

Arev Nanotec produces and sells functional ingredients produced via its proprietary extraction systems. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical and sport nutrition markets. Arev's model is to toll process extraction of targeted essential and functional oils, and license its formulations to licensed producers in Canada. The company utilizes toll processors in foreign countries to encapsulate and package its formulations that can be sold in traditional distribution channels and on-line.

We seek Safe Harbor.

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