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Cloud Nine Education Group Ltd (2)
Symbol CNI
Shares Issued 16,787,047
Close 2021-02-03 C$ 0.75
Recent Sedar Documents

Cloud Nine closes $1.87M first tranche of placement

2021-02-03 20:13 ET - News Release

Mr. Allan Larmour reports

CLOUD NINE CLOSES $1.87 MILLION NON-BROKERED PRIVATE PLACEMENT

Cloud Nine Education Group Ltd. has closed the first tranche of its non-brokered private placement of 6,235,666 units for gross proceeds of $1,870,700.

Each unit consists of one common share in the capital of the company and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to acquire one share at a price of 75 cents per share for a period of 12 months following the date of closing of the offering.

The net proceeds from the offering are expected to be used to finance the company's general working capital.

In connection with the offering, the company shall pay, to an eligible person, a finder's fee of $30,456 and issue 40,608 finder warrants. The finder warrants are non-transferable and exercisable on the same terms as the warrants issued under the offering.

All securities to be issued pursuant to the offering will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws.

We seek Safe Harbor.

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