1933 Industries (CSE:TGIF, OTCQX:TGIFF) announced today a non-brokered financing of up to C$5,000,000.
The Offering will consist of the sale of up to 66,666,666 units at a price of C$0.075 per Unit. Each Unit will consist of one common share of the Company and one half of one transferable share purchase warrant.
Each whole share purchase Warrant will entitle the holder to acquire one Common Share at an exercise price of C$0.125 per share for a period of 24 months following the closing date of the Offering. The net proceeds of the Offering will be used to fund the Company’s ongoing business development and general working capital.
Paul Rosen, CEO of 1933 stated in the press release:
“We have cut our public entity expenses by 68% and our non-operating expenses by 46% since November 2019, and we continue to move aggressively to control costs. This financing will strengthen our balance sheet and provide additional cash reserves to manage COVID-19 related uncertainty while we execute on our strategy.”
The Offering is anticipated to close on or about August 14, 2020.
1933 Industries is a market awareness client of Capital 10X.
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