Xebra Brands Announces Closing of Shares for Debt Transaction
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB) has completed its previously announced shares for debt transaction, settling $448,146 in accrued liabilities through the issuance of 8,962,917 common shares at $0.05 per share. The settlement includes payments to officers, directors, consultants, and service providers.
Of the total shares, 3,730,917 were issued to company insiders, constituting a related party transaction under MI 61-101. Additionally, 7,476,000 settlement shares are subject to a four-month hold period.
The company also announced plans for a non-brokered private placement offering of up to 3,000,000 units at $0.05 per unit, aiming to raise up to $150,000. Each unit includes one common share and half a warrant, with each full warrant exercisable at $0.10 for 24 months.
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB) ha completato la sua operazione di scambio azioni per debito precedentemente annunciata, saldando $448,146 in passività accumulate attraverso l'emissione di 8,962,917 azioni ordinarie a $0.05 per azione. Il saldo include pagamenti a funzionari, direttori, consulenti e fornitori di servizi.
Del totale delle azioni, 3,730,917 sono state emesse a membri interni dell'azienda, costituendo una transazione con parti correlate secondo MI 61-101. Inoltre, 7,476,000 azioni di saldo sono soggette a un periodo di blocco di quattro mesi.
L'azienda ha anche annunciato piani per un'offerta di collocamento privato non intermediato fino a 3,000,000 unità a $0.05 per unità, con l'obiettivo di raccogliere fino a $150,000. Ogni unità include un'azione ordinaria e metà di un warrant, con ogni warrant completo esercitabile a $0.10 per 24 mesi.
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB) ha completado su transacción de acciones por deuda previamente anunciada, liquidando $448,146 en pasivos acumulados a través de la emisión de 8,962,917 acciones ordinarias a $0.05 por acción. La liquidación incluye pagos a funcionarios, directores, consultores y proveedores de servicios.
Del total de acciones, 3,730,917 fueron emitidas a personas internas de la empresa, constituyendo una transacción con partes relacionadas bajo MI 61-101. Además, 7,476,000 acciones de liquidación están sujetas a un período de retención de cuatro meses.
La empresa también anunció planes para una oferta de colocación privada no intermediada de hasta 3,000,000 unidades a $0.05 por unidad, con el objetivo de recaudar hasta $150,000. Cada unidad incluye una acción ordinaria y medio warrant, con cada warrant completo ejercitable a $0.10 durante 24 meses.
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB)는 이전에 발표된 채무 대 주식 거래를 완료하였으며, 8,962,917주를 주당 $0.05의 가격으로 발행하여 $448,146의 발생된 부채를 정산하였습니다. 이 정산에는 임원, 이사, 컨설턴트 및 서비스 제공자에 대한 지급이 포함됩니다.
총 주식 중 3,730,917주는 회사 내부자에게 발행되어 MI 61-101에 따른 관련자 거래를 구성합니다. 또한, 7,476,000주의 정산 주식은 4개월의 보유 기간이 적용됩니다.
회사는 또한 주당 $0.05로 최대 3,000,000단위를 비중개 방식으로 사모 배정할 계획을 발표하였으며, 이를 통해 최대 $150,000을 조달할 예정입니다. 각 단위는 하나의 보통주와 반 개의 워런트로 구성되며, 각 완전한 워런트는 24개월 동안 $0.10에 행사할 수 있습니다.
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB) a terminé sa transaction d'échange d'actions contre des dettes précédemment annoncée, réglant $448,146 de passifs accumulés par l'émission de 8,962,917 actions ordinaires à $0.05 par action. Le règlement comprend des paiements aux dirigeants, administrateurs, consultants et prestataires de services.
Parmi le total des actions, 3,730,917 ont été émises à des initiés de l'entreprise, constituant une transaction entre parties liées selon MI 61-101. De plus, 7,476,000 actions de règlement sont soumises à une période de blocage de quatre mois.
L'entreprise a également annoncé des plans pour une offre de placement privé sans courtier pouvant aller jusqu'à 3,000,000 d'unités à $0.05 par unité, visant à lever jusqu'à $150,000. Chaque unité comprend une action ordinaire et une demi-option, chaque option complète pouvant être exercée à $0.10 pendant 24 mois.
Xebra Brands (XBRA:CSE)(XBRAF:OTCQB) hat seine zuvor angekündigte Umwandlung von Aktien in Schulden abgeschlossen und $448,146 an aufgelaufenen Verbindlichkeiten durch die Ausgabe von 8,962,917 Stammaktien zu je $0.05 beglichen. Die Abwicklung umfasst Zahlungen an Führungskräfte, Direktoren, Berater und Dienstleister.
Von der Gesamtanzahl der Aktien wurden 3,730,917 an Insider des Unternehmens ausgegeben, was eine Transaktion mit nahestehenden Personen gemäß MI 61-101 darstellt. Darüber hinaus unterliegen 7,476,000 Abwicklung Aktien einer viermonatigen Haltedauer.
Das Unternehmen kündigte auch Pläne für ein nicht vermittelte Privatplatzierungsangebot von bis zu 3,000,000 Einheiten zu je $0.05 an, mit dem Ziel, bis zu $150,000 zu sammeln. Jede Einheit umfasst eine Stammaktie und eine halbe Warrant, wobei jede volle Warrant für 24 Monate zu $0.10 ausgeübt werden kann.
- Reduction of $448,146 in debt obligations without using cash reserves
- Planned private placement could bring additional $150,000 in funding
- Significant shareholder dilution through issuance of 8,962,917 new shares
- Large portion of debt settlement (3,730,917 shares) goes to company insiders
- Additional dilution expected from planned private placement of 3,000,000 units
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / February 13, 2025 / Xebra Brands Ltd. ("Xebra" or the "Company") (XBRA:CSE)(XBRAF:OTCQB)(9YC0:FSE), a cannabis company, is pleased to announce that it has closed the shares for debt transaction (the "Debt Settlement") as previously announced on January 22, 2025. The Company settled aggregate debt of
The Company issued the Settlement Shares to settle the Debt in order to preserve its funds for operations and continued growth opportunities. 7,476,000 Settlement Shares issuable under the Debt Settlement are subject to a hold period of four months and one day from the date of issuance. The Debt Settlement is subject to the final acceptance of the Canadian Securities Exchange (The "CSE").
Certain directors and officers of the Company (the "Insiders") were issued 3,730,917 Settlement Shares pursuant to the Debt Settlement. Accordingly, the issuance of such Settlement Shares to the Insiders pursuant to the Debt Settlement constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Xebra is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(b) and section 5.7(1)(b) of MI 61-101.
Further to the Company's press release on January 22, 2025, the Company intends to complete a non-brokered private placement in the aggregate amount for up to 3,000,000 units of the Company (each, a "Unit") at a price of
The securities issued under the Debt Settlement have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news 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 the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT XEBRA
Xebra Brands Ltd. is an international leading cannabis company dedicated to providing high-quality CBD products to consumers around the world. With a focus on compliance, quality, and innovation, Xebra is committed to leading the way in the CBD industry.
Rodrigo Gallardo
Interim CEO
For more information contact:
+1 (833) XEBRA 88
ir@xebrabrands.com
Cautionary Note Regarding Forward-Looking Information
Certain information contained in this press release constitutes 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 execute its business plan or business model, the completion of the Offering on the terms anticipated or at all, and the ability to obtain necessary approvals in connection with the Debt Settlement. All statements, other than statements of historical facts, are forward-looking information and statements. The words "aim", "believe", "expect", "anticipate", "contemplate", "target", "intends", "continue", "plans", "budget", "estimate", "may", "will", and similar expressions identify forward-looking information and statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xebra as of the dates of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, the inability of Xebra to retain the authorizations granted by COFEPRIS, failure to receive required regulatory approvals for securities offerings, the inability to generate sufficient revenues or to raise sufficient funds to carry out its business plan; changes in government legislation, taxation, controls, regulations and political or economic developments in various countries; risks associated with agriculture and cultivation activities generally, including inclement weather, access to supply of seeds, poor crop yields, and spoilage; compliance with import and export laws of various countries; significant fluctuations in cannabis prices and transportation costs; the risk of obtaining necessary licenses and permits; inability to identify, negotiate and complete potential acquisitions, dispositions or joint ventures for any reason; the ability to retain key employees; dependence on third parties for services and supplies; non-performance by contractual counter-parties; general economic conditions; the continued growth in global demand for cannabis products and the continued increase in jurisdictions legalizing cannabis; and the timely receipt of regulatory approvals for license applications on terms satisfactory to Xebra. In addition, there is no assurance Xebra will: be a low-cost producer or exporter; obtain a dominant market position in any jurisdiction; have products that will be unique. The foregoing list is not exhaustive and Xebra undertakes no obligation to update or revise any of the foregoing except as required by law. Many of these uncertainties and contingencies could affect Xebra's actual performance and cause its actual performance to differ materially from what has been expressed or implied in any forward-looking statements made by, or on behalf of, Xebra. 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.
SOURCE: Xebra Brands Ltd.
View the original press release on ACCESS Newswire
FAQ
How much debt did Xebra Brands (XBRAF) settle in its February 2024 shares for debt transaction?
What is the size of Xebra Brands' (XBRAF) planned private placement announced in February 2024?
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What is the exercise price and term of the warrants in Xebra's (XBRAF) planned private placement?
