Cannabis-focused biotech company Beleave Inc. (CSE: BE) (OTCQX: BLEVF) this morning announced that, in reference to a previously detailed non-brokered private placement, it has received binding commitments for total proceeds of $5 million at a price of $1.75 per unit. Each unit is comprised of one common share of the company and one-half of one common share purchase warrant, valid for a period of 24 months from the date of issuance with an exercise price of $2.25, subject to certain accelerated expiry conditions. “The company is pleased to welcome a new group of investors, bolster the treasury and add to the companies working capital for future endeavours,” Andrew Wnek, CEO of Beleave, stated in the news release. The offering is subject to customary closing conditions, including CSE approval, but it is expected to close on or about April 26, 2018.
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About Beleave
Beleave Inc. is a biotech company and Beleave’s wholly owned subsidiary Beleave Kannabis Corp. (formerly First Access Medical Inc.) is a licensed producer pursuant to the ACMPR. Beleave’s purpose-built facility is located near Hamilton, Ontario. For more information, visit the company’s website at www.Beleave.com
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