Vancouver, British Columbia–(Newsfile Corp. – April 1, 2019) – TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that the closing date of the recently announced private placement will be on Thursday, April 4th, 2019.
“The private placement was oversubscribed, allowing us to bring in a significant number of new investors and materially increase our shareholder base. In fact, the volume of subscriptions caused a slight delay in our original anticipated closing date. With that said, we are extremely thankful to all of the investors who are participating in the private placement,” stated Jim Pakulis, CEO of TransCanna.
As reported in our March 14th press release, as a result of significant demand, the Company’s brokered private placement of 5,000,000 units of the Company (the “Units”) at a price of CDN$2.00 per Unit (the “Offering”), is oversubscribed. Consequently, the Company increased the size of the Offering by sixty percent to a maximum of 8,000,000 Units to raise gross proceeds of CDN$16,000,000. The terms of the Units under the Offering remain unchanged as previously announced in our March 14th and February 20th press releases. The Offering is being conducted by a syndicate of agents co-led by Haywood Securities Inc. and Canaccord Genuity Corp., and including Gravitas Securities Inc.
For further information, please visit the Company’s website at www.transcanna.com.
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.
On behalf of the Board of Directors
Chief Executive Officer
Telephone: (604) 609-6199
Source: TransCanna Holdings Inc.
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