Inner Spirit Holdings Ltd. (CNSX:ISH) announced a private placement of 14,558,824 units at CAD 0.15 per unit for gross proceeds of CAD 2,183,824 on July 31, 2018. The transaction included participation from Newstrike Brands Ltd. (TSXV:HIP) for 7,500,000 units and existing investor Auxly Cannabis Group Inc. (TSXV:XLY) for 7,058,824 units, which acquired 4.08% stake in the transaction to maintain its 15% stake. Each unit comprises of one common share and one-half of a common share purchase warrant exercisable at CAD 0.30 per share for a period of two years following the date of issuance.

The units issued are subject to a four month holding period.