TORONTO, April 30, 2021 (GLOBE NEWSWIRE) -- Captor Capital Corp. (CSE: CPTR; FRANKFURT: NMVA; STUTTGART: NMVA), ("Captor" or the "Company"), one of the largest cannabis retail operators in Northern California, is pleased to announce that it closed the non-brokered private placement (the “Non-Brokered Offering”) of 12,695,598 units (“Units”) that will result in gross proceeds of C$12,060,818.10 which is an increase of 210,526 shares for additional proceeds of C$200,000 from the placement totals announced on April 28, 2021. Each Unit has a purchase price of C$0.95 and is comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) at an exercise price of C$1.20 per Warrant Share for a period of 24 months from the closing. The Company intends to use the proceeds of the Non-Brokered Offering for working capital and acquisitions, if suitable targets are identified.
Insiders of the Company, including a director and a holder of greater than 10% of the Common Shares, are participating in the Non-Brokered Offering for an aggregate amount of approximately $4.8 million. Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the Non-Brokered Offering constitutes a “related party transaction” to the extent that insiders of the Company have acquired the Units.
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