HTC Extraction Systems (TSX.V: HTC) today announced that it has repriced its “bought deal” brokered private placement that was originally announced on July 3, 2019 to reflect the current market price of the company’s common shares. Per the terms of the offering, Canaccord Genuity Corp. will act as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters and purchase 20,000,000 units of the company on a “bought deal” private placement basis at a price of C$0.50 per unit for total gross proceeds of C$10,000,000. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire a common share at an exercise price of C$0.70 each for a period of 36 months from the closing of the offering. All securities are subject to a statutory hold period of four months and one day following closing. The offering is expected to close on or about October 8, 2019.
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About HTC Extraction Systems
HTC Extraction Systems has developed proprietary hemp-biomass, gas and liquid extraction systems that have been designed for the extraction of hemp biomass and the distillation and purification of ethanol and ethanol-based solvents used for this extraction. The HTC Extraction System(TM) has been engineered to reduce capital and operating costs while at the same time delivering superior performance by reducing energy usage, lowering emissions and improving the quality of the product being produced. For more information, visit the company’s website at www.HTCExtraction.com.
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