VANCOUVER, Jan. 22, 2018 /CNW/ - Liberty Leaf Holdings Ltd. (CSE: LIB, OTCQB: LIBFF and FSE: HN3P) (the "Company" or "Liberty Leaf") is pleased to announce that it has closed a non-brokered private placement financing (the "Private Placement") for total gross proceeds of $2,000,000.
The Company has allotted and issued 5,000,000 units (the "Units") at a price of $0.40 per Unit. Each Unit is comprised of one common share and one-half of one transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company for a period of up to twenty-four months at a price of $0.60.
In addition, the Company has paid finder's fees of a total of $6,250 and issued an aggregate 259,485 finder's units (the "Finders Units"). Each Finders Unit is comprised of one common share and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company for a period of up to twenty-four months at a price of $0.60.
"Liberty Leaf is pleased to have cornerstone investors from the cannabis industry participate in our equity offering," said Will Rascan, President and CEO of Liberty Leaf.
For more information on the participants in this placement, please follow this link:
Proceeds will be used to accelerate the facility build-outs for both of the Company's North Road Ventures and Just Kush Enterprises operations, seeking out revenue generating cannabis related ventures and general working capital.
All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on May 23, 2018.
About Liberty Leaf
Liberty Leaf Holdings Ltd. is a new Canadian-based, public company whose focus is to build and support a diversified portfolio of cannabis-sector businesses, including cultivation, processing, value-added CBD/THC pet products and supply-chain products within this dynamic and fast-growing sector.
Liberty Leaf owns a 60% interest in Just Kush, along with 100% wholly-owned North Road Ventures, are both late-stage applicants under Health Canada's ACMPR.
On behalf of the Board
Will Rascan, President & CEO
Liberty Leaf Holdings Ltd.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
SOURCE Liberty Leaf Holdings
For further information: please visit http://www.libleaf.com or email [email protected]