TransCanna Holdings (CSE: TCAN) announced the January 8,
2019 completion of its initial public offering (“IPO”) of 4,400,000 units,
issued at a price of $0.50 per unit, which generated aggregate gross proceeds
of $2,200,000 pursuant to a December 10, 2018 prospectus. Each unit is
comprised of one TransCanna common share and one common share purchase warrant.
Each warrant entitles the holder to acquire one additional share at an exercise
price of $1 per share until January 8, 2020, under the condition that if the
price of the shares on the Canadian Securities Exchange (“CSE”) closes at or
above $1.50 for a period of 10 consecutive trading days, the company may
accelerate the term of the warrants to a period of 30 days through issuing written
notice to the warrant holders. The warrants are issued pursuant to an indenture
dated January 8, 2019 between the company and its warrant agent, Odyssey Trust
Company, with a copy available under the company’s profile on SEDAR.com.
To view the full press release, visit http://ibn.fm/srfyU
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian based company
providing branding, transportation and distribution services, through its
wholly-owned California subsidiaries, to a range of industries including the
cannabis marketplace. For further information, please visit the company’s
website at www.TransCanna.com
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