Xebra Brands Ltd. (OTCQB:XBRAF) (CSE:XBRA) (FSE:9YC) has closed its non-brokered private placement previously announced on February 25, 2022. The private placement was oversubscribed by 50%.
The private placement raised gross proceeds of CA$1.8 million ($1.43 million) through the issuance of 15 million units at a price of CA$0.12 per unit. Each unit is comprised of one common share of Xebra, and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one share at a price of C$0.25 for a period of 12 months from the closing date of the private placement. An aggregate of 257,063 shares, 504,560 warrants and CA$60,547 will be paid in finders' fees. The securities issued in the private placement are subject to a hold period expiring on August 9, 2022.
