Mr. Allan Larmour reports
CLOUD NINE CLOSES SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Cloud Nine Education Group Ltd. has closed the second tranche of its non-brokered private placement for additional 3,211,641
units and additional gross proceeds of $963,492. The company has raised an aggregate of
$2,834,192 under the first and second tranches of the offering.
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 $5,391 and issue 7,188
finder's warrants. The finder's 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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