Vancouver, British Columbia – HEMP FOR HEALTH INC. (CSE: HFH) (FSE: 9HH) (the “Company”) is pleased to announce that it has closed Tranche 1 of its non-brokered private placement (the “Financing”), raising $672,500 in gross proceeds through the issuance of 13,450,000 units (the “Units”) at a price of $0.05 per Unit. (See press release of November 17 and 26, 2021.) Each Unit is comprised of one common share and one-half of one common share purchase warrant (“Warrant”), with each whole Warrant entitling the holder to purchase one common share of HFH at a price of $0.10 per share for a period of 2 years, provided that in the event the closing price of the Company’s Shares is equal to or greater than $0.20 per share for 30 consecutive trading days at any time following four months after the date of closing, the Company may, by notice to the Warrant holders (which notice may be by way of general news release), reduce the remaining exercise period of the Warrants to not less than 30 days following the date of such notice.
Aggregate compensation of $52,000 and 520,000 finders’ warrants (having the same general terms as the Warrants forming part of the Units) was paid by the Company to Canaccord Genuity Corp. as finders’ fees for the portion of the Financing attributable to their efforts.
The Company also announces that it has issued 8,002,500 shares in full settlement of outstanding debt in the aggregate amount of $400,125 (see news release of November 17, 2021).
All securities issued in connection with Tranche 1 of the Financing and the debt settlement are subject to a hold period of four months and one day in accordance with the rules and policies of the Canadian securities Exchange and applicable Canadian securities laws.
The Company now has 33,533,500 common shares issued and outstanding.
ON BEHALF OF HEMP FOR HEALTH INC.
“(sgd.)” Robert Eadie
President & CEO
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Toll Free: 1-866-602-4935