Nutritional High Announces Closing of Brokered Private Placement Co-led by Canaccord Genuity and Gravitas Securities

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TORONTO, March 15, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce the closing of its previously announced brokered private placement (the “Offering”), consisting of $8,000,000 aggregate principal amount of convertible debenture units (the “Convertible Debenture Units”) at a price of $1,000 per Convertible Debenture Unit. The Offering was completed with Canaccord Genuity Corp. and Gravitas Securities Inc. as co-lead agents (collectively the “Agents”).

“We would like to thank the participants in this latest financing round and look forward to deploying further capital in Nevada, California, and Washington.” said Jim Frazier, CEO of Nutritional High.

Each Convertible Debenture Unit consists of $1,000 principal amount of 10.0% senior unsecured convertible debentures (the “Convertible Debentures”) and 1,667 common share purchase warrants (the “Warrants”) of the Company. Each Convertible Debenture is convertible into common shares of the Company (“Common Shares”) at the option of the holder at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding March 15, 2021, and (ii) the date fixed for redemption, at a conversion price of $0.60 per Common Share (the “Conversion Price”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the Closing Date at an exercise price of $0.70 per Warrant Share, subject to adjustment in certain events.

All securities issued in connection with the Offering are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws. In connection with the Offering and as compensation for their services, the Company paid the Agents a cash fee representing 8% of the gross proceeds raised in the Offering and were issued Convertible Debentures in the principal amount of $190,000 and 316,730 Warrants. In addition, the Agents received warrants (“Agents’ Warrants”) to acquire units of the Company that are exercisable at any time prior to March 15, 2020 to acquire that number of units of the Company (the “Agents’ Units”) which is equal to 8% of the number of Common Shares potentially issuable upon the conversion of the aggregate principal amount of Convertible Debentures sold under the Offering. Each Agents’ Warrant shall be exercisable into one Agents’ Unit at a price of $0.60 per Agents’ Unit. Each Agents’ Unit consists of one Common Share and one Warrant.

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