Canadian Cannabis Edibles Producer City View Green To Raise $730K Via Private Placement
Canadian cannabis edibles company City View Green Holdings Inc. (CSE:CVGR) (OTCPK:CVGRF) announced Thursday it plans to raise gross proceeds of up to CA$1 million($730,000) through a non-brokered private placement of up to 100 million units at a price of CA$0.01 per unit.
Under the placement, each unit will include one company share and half a warrant. Two halves make a full warrant, allowing the holder to buy one company share at CA$0.05 per share for up to three years after the issue date. If the average closing price of the company’s shares on the CSE equals or exceeds CA$0.055 for 10 consecutive trading days, starting one year after the closing, the company may shorten the warrant’s expiry date to 30 days after notifying holders.
City View Green plans to use the net proceeds from the …