Xebra Closes Oversubscribed Financing

Rhea-AI Summary

Xebra Brands Ltd. (CSE: XBRA, OTCQB: XBRAF) announced the successful closing of its oversubscribed non-brokered private placement, raising C$1,800,000 through the issuance of 15,000,000 units priced at C$0.12 each. Each unit includes one common share and a half warrant, with full warrants allowing the purchase of a share at C$0.25 for 12 months. The company will use proceeds for general working capital.

The private placement is subject to a hold period expiring on August 9, 2022.

Positive

• Oversubscribed private placement raised C$1,800,000, indicating strong investor interest.
• Each unit includes a warrant, potentially increasing future capital if exercised.

Negative

• None.

VANCOUVER, BC, April 11, 2022 /PRNewswire/ - Xebra Brands Ltd. ("Xebra") (CSE: XBRA) (OTCQB: XBRAF) (FSE: 9YC), a cannabis company, is pleased to announce that it has closed its non-brokered private placement (the "Private Placement") previously announced on February 25, 2022.  The private placement was oversubscribed by 50%.

The Private Placement raised gross proceeds of C$1,800,000 through the issuance of 15,000,000 units at a price of C$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 C$0.25 for a period of 12 months from the closing date of the Private Placement. An aggregate of 257,063 shares, 504,560 warrants and C$60,547 will be paid in finders' fees. The securities issued in the Private Placement are subject to a hold period expiring on August 9, 2022.

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

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. State Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor any other jurisdiction.

ON BEHALF OF THE BOARD:

Rodrigo Gallardo
President

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SOURCE Xebra Brands Ltd.

FAQ

What was the amount raised in Xebra's private placement on April 11, 2022?

Xebra raised C$1,800,000 in its private placement announced on April 11, 2022.

What is the price per unit in the Xebra Brands private placement?

Each unit in the private placement was priced at C$0.12.

What expiration date is associated with the warrants from the Xebra Brands private placement?

The warrants from the private placement expire 12 months from the closing date, which is April 11, 2022.

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

Xebra Brands intends to use the proceeds for general working capital purposes.

What is the ticker symbol for Xebra Brands Ltd.?

The ticker symbol for Xebra Brands Ltd. is XBRAF.