- Pure Extracts recently updated investors on successful completion of second tranche of its special warrants private placement
- In aggregate, Company will raise gross proceeds of $8.5 million through both tranches of private placement
- Pure Extracts will employ net proceeds from private placement towards capacity expansion for Company’s extraction business, and for general working capital purposes
- Company previously revealed that it was conducting study looking into formulation, manufacturing of psilocybin-based active treatments
Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on the cannabis, hemp, and functional mushroom sectors, has recently updated investors following the successful completion of the second tranche of their non-brokered private placement offering of special warrants (https://cnw.fm/Cfk2b). Following the close of the second tranche, which resulted in Pure Extracts issuing an aggregate 10,839,230 special warrants for gross proceeds of $5,473,811.14, the company will have raised a total of $8,534,632.81 from its private placement.
The special warrants each comprised of one common share and one-half of a purchase warrant (with each warrant entitling the holder to acquire one common share at an exercise price of $0.65 per share for a period of 24 months following the deemed exercise date). The transaction is set to be completed upon the earlier of either a release of the final prospectus for the private placement or…
NOTE TO INVESTORS: The latest news and updates relating to PULL are available in the company’s newsroom at https://cnw.fm/PULL
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