Mr. Cassidy McCord reports
YUMY CANDY PROVIDES UPDATE AND CLOSES $456,000 PRIVATE PLACEMENT
The Yumy Candy Company Inc. has closed its previously announced non-brokered private placement. The private placement comprised of 2,280,000 units at a price of 20 cents per unit for gross proceeds of $456,000.00. The Company has changed the previously announced share price from 19.5 cents to 20 cents to reflect the increase in the Company's market share price.
Each unit will comprise of one common share and one common share purchase warrant of the company. Each warrant will be exercisable into a common share of the company for a period of 24 months at an exercise price of 25 cents (previously 25.5 cents) for 24 months from issuance.
The proceeds of the private placement will be used for the Company's vegan gummy business operations, accounts and loans payable, and general working capital.
The closing of the private placement is subject to the approval of the Canadian Securities Exchange (the "CSE"). All private placement securities will be subject to a four-month and one-day hold period accordance with applicable securities laws. No new control persons of the Company will be created pursuant to the Private Placement.
Yumy Bear is an affordable health-conscious low-sugar plant-based confectionery company based in Vancouver, British Columbia and it has developed a portfolio of healthier gelatine-free candies made from non-GMO ingredients with proprietary recipes. All of its products are free of gelatin, soy, gluten, nuts, dairy, eggs, sugar alcohols, artificial sweeteners and genetically modified organisms.
An anonymous director reports
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