Xebra Announces Private Placement

Rhea-AI Summary

Xebra Brands Ltd. (CSE: XBRA, OTCQB: XBRAF) announces a non-brokered private placement aiming for gross proceeds of up to CAD$1,200,000. The offering consists of up to 10,000,000 units priced at CAD$0.12 per unit, each unit containing one common share and a half warrant. Each full warrant can be exercised to buy a common share at CAD$0.25 for 12 months. The proceeds will be allocated for general working capital. The placement is subject to Canadian Securities Exchange approval.

Positive

• Private placement targets gross proceeds of CAD$1,200,000.
• Units priced at CAD$0.12 can enhance capital for working needs.

Negative

• Warrants priced at CAD$0.25 may dilute shareholder equity.
• Private placement subject to regulatory approval, which could delay funding.

VANCOUVER, BC, Feb. 25, 2022 /PRNewswire/ - Xebra Brands Ltd. ("Xebra") (CSE: XBRA) (OTCQB: XBRAF) (FSE: 9YC), a cannabis company, is pleased to announce a non-brokered private placement (the "Private Placement") for gross proceeds of up to CAD$1,200,000.

The Private Placement is for up to 10,000,000 units at a price of CAD$0.12 per unit. Each unit is comprised of one common share of Xebra (a "Share"), and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.25 for a period of 12 months from the closing date of the Private Placement.

Finders' Fees of 7% in cash or shares may be paid in connection with the Private Placement in accordance with the policies of the Canadian Securities Exchange (the "CSE"). The Private Placement is subject to approval by the CSE.

Xebra intends to use the proceeds of the Private Placement for general working capital purposes.

ON BEHALF OF THE BOARD,

Rodrigo Gallardo
President

For more information contact:

+1 (604) 418-6560
ir@xebrabrands.com

Certain information contained in this press release constitute forward-looking statements under applicable securities laws. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, these include, without limitation, statements regarding Xebra Brands Ltd.'s expectations in respect of its ability to successfully close the above referenced private placement. Readers are cautioned that forward-looking statements are not guarantees of future performance and readers should not place undue reliance on such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those set out in such statements.

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SOURCE Xebra Brands Ltd.

FAQ

What is the amount raised in Xebra's private placement on February 25, 2022?

Xebra's private placement aims to raise up to CAD$1,200,000.

What is the share price for units in Xebra's private placement?

The units in Xebra's private placement are priced at CAD$0.12 each.

What will Xebra use the proceeds from the private placement for?

The proceeds from the private placement will be used for general working capital purposes.

What is the exercise price for the warrants in Xebra's private placement?

Each full warrant can be exercised to purchase a common share at CAD$0.25.

What is the duration for the warrants after Xebra's private placement?

The warrants are valid for a period of 12 months from the closing date of the private placement.