NEWMARKET, Ontario, Oct. 16, 2017 (GLOBE NEWSWIRE) — ANB Canada Inc. (the “Corporation”) is pleased to announce that it has completed the second and final tranche of a private placement of Class A Shares (the “Class A Shares”) for aggregate gross proceeds of $230,000. The 1,150,000 Class A Shares were issued for $0.20 per share. A total of $1,830,000 was raised between the two tranches.
Finders were paid cash commissions equal to 4% of the gross proceeds of the private placement offering (not including President’s List orders) and are entitled to finder warrants (the “Warrants”) to acquire that number of Class A Shares equal to 4% of the number of Class A Shares sold (not including President’s List orders). The Warrants are exercisable at $0.20 per share at any time up to 24 months following closing and 25,000 Warrants were issued.
About the Business
The Corporation offers turnkey over-the-counter (“OTC”) sales and distribution services to manufacturers in the Canadian Food, Drug and Mass marketplace. The Corporation not only markets, sells, warehouses and distributes consumer OTC brands, but also helps manufacturers in a number of other areas including navigating Canadian regulatory guidelines.
For further information, please contact:
ANB Canada Inc.
199 Matthew Boyd Crescent
Newmarket, Ontario L3X 3C7
Brent Larkan, Chief Executive Officer
Notice on forward-looking statements:
This release includes forward-looking statements regarding the Corporation and its business. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Corporation, including risks affecting the Corporation, economic factors and the equity markets generally. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.