VANCOUVER, BCNov. 23, 2021 /CNW/ – Xebra Brands Ltd. (“Xebra”) (CSE: XBRA) (FSE: 9YC)a cannabis company, is pleased to announce that it has closed a non-brokered private placement of 6,700,000 common shares (“Common Shares“) at a price of CAD$0.20 per Common Share, for gross proceeds of CAD$1,340,000 (the “Offering“), all placed with a single subscriber. There were no warrants associated with the Offering.

 

Xebra Brands Ltd. Logo (CNW Group/Xebra Brands Ltd.)
Xebra Brands Ltd. Logo (CNW Group/Xebra Brands Ltd.)

Xebra has also agreed to issue 536,000 Common Shares, equal to 8% of the Common Shares issued under the Offering, to an eligible finder in connection with the Offering.

 

Xebra intends to use the proceeds of the Offering for general working capital purposes. The securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.

 

Also, Xebra has engaged OGIB Corporate Bulletin to disseminate a marketing update.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

ON BEHALF OF THE BOARD,

Rodrigo Gallardo
President

SOURCE Xebra Brands Ltd.

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Xebra Completes $1,340,000 Non-Brokered Private Placement