Leonovus Closes $1.3 Million Financing Round

This is a Press Release edited by StorageNewsletter.com on 2017.03.13
Source URL: http://www.storagenewsletter.com/2017/03/13/leonovus-closes-1-3-million-financing-round//

Leonovus Inc.http://www.leonovus.com raised gross proceeds of $1.3 million in the initial closing of its previously announced non-brokered private placement for units of the company at a price of CDN $0.05 per unit.

Each unit is comprised of one common share in the capital of the company and one common share purchase warrant. Each warrant is exercisable into one common share at a price of CDN $0.10 per common share for a period of 24 months from the date of issuance.

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The initial closing raised gross proceeds of $1.3 million through the issuance of 26,000,000 Units. The common shares and warrants issued pursuant to the offering are subject to a four month and one day hold period from the date of issuance. Completion of the offering is subject to final acceptance and approval of the TSX Venture Exchange.

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