Mr. Daniel Cohen reports
AURA ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $1,500,000
Aura Health Inc. is raising up to $1.5-million by way of a non-brokered private placement of units of the company at a price of 15 cents per unit. Each unit comprises one common share in the capital of the company and one-half of one common share purchase warrant, exercisable at 25 cents for a period of 24 months from the date of issuance. The net proceeds from the offering shall be used for general working capital and to advance the company's involvement in HolyCanna and CannabiSendak.
In connection with the offering, the company expects to: (i) pay an aggregate cash commission of 8 per cent of the proceeds placed by subscribers introduced to the company by finders; and (ii) issue that number of non-transferrable finders warrants equal to 8 per cent of the number of units subscribed to by the placee. Each finder warrant will be exercisable to purchase one common share at an exercise price of 25 cents for a period of 24 months from the date of issuance.
The offering is expected to close on or about Jan. 10, 2018, and remains subject to approval of the Canadian Securities Exchange. Aura expects that insiders of the company will participate in the offering.
The common shares comprising the units and all common shares issued upon exercise of the warrants and the finder warrants will be subject to a hold period of four months plus one day from the closing date. The warrants and the finder warrants will be subject to a hold period of four months plus one day from the closing date.
About Aura Health Inc.
Aura is building an international network of vertically integrated cannabis assets. The company holds convertible debt that converts to 54-per-cent equity of HolyCanna, a cultivation and nursery licence holder in Israel, and has a letter of intent in place to acquire the majority of CannabiSendak, the builder of a network of high-profile dispensaries in Israel. Aura also owns a 30-per-cent interest in four medical marijuana clinics in the U.S. Sun Belt, with an option to increase its interest in three of the clinics to 51 per cent.
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