DELIC COMPLETES OFFERING OF DEBENTURES
Delic Holdings Corp completed the sale of 1,240 units on July 27, 2022, raising $1,240,000. Each unit consists of a 4.0% senior secured convertible debenture and share purchase warrants. The debentures, convertible at $0.065 per share, mature in 24 months and bear 4% annual interest. Finders were compensated with cash and warrants. Proceeds will be used for expansion and corporate purposes. The securities are subject to a four-month hold period in Canada. Delic is focused on psychedelic wellness and operates multiple related businesses.
- Raised $1,240,000 through the completion of the debenture offering.
- Each unit includes a senior secured debenture, enhancing investor security.
- The funds will be used for expansion and corporate purposes.
- The company relies on future cash generation to meet principal and interest obligations on the Debentures.
VANCOUVER, BC, July 29, 2022 /PRNewswire/ - Delic Holdings Corp ("Delic" or the "Company") (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, is pleased to announce that it completed the sale of 1,240 units (the "Units") at a price of
The principal amount and accrued but unpaid interest on each Debenture is convertible at the option of the holder into common shares of the Company ("Common Shares") at any time following the Closing Date at a price of
The Company has paid finder's fees with respect to certain of the issuances of Units. Finders could elect to receive: (i) a number of units ("Finder's Units") consisting of one Common Share and one Finder's Warrant equal to
All securities issued in connection with the Debenture Offering are subject to a hold period in Canada of four months and one day from the Closing Date. The Company will use the proceeds from the sale of the Debenture Units, net of expenses (including cash paid to finders), for expansion and general corporate purposes.
Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The company owns and operates an umbrella of related businesses, including the largest chain of psychedelic wellness clinics in the country, Ketamine Wellness Centers; the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology, Delic Labs; the premier psychedelic wellness event, Meet Delic; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and effective treatment options to the masses.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively "forward-looking statements"). Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "likely" and "intend" and statements that an event or result "may," "will," "should," "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding payment of principal and interest on the Debentures, and the expected use of proceeds. Forward-looking statements should not be unduly relied upon. Forward-looking statements are based on assumptions that management believes to be reasonable in the circumstances, including assumptions that the Company will generate sufficient cash to pay principal and interest on the Debentures. However, such assumptions may prove to be incorrect. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. For more information on the Company, its subsidiaries and the risks and challenges of their businesses, investors should review the Company's disclosure documents, which are available under the Company's profile at www.sedar.com.
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SOURCE Delic Holdings Inc.
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