CannAmerica Brands Corp. (CNSX:CANA) announced a brokered best efforts basis private placement of up to 33,333,333 units at a price of CAD 30 per unit for gross proceeds of up to CAD 9,999,999.9 on March 12, 2019. Each unit consist of one common share and one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of 60 months from the closing date of the offering at an exercise price of CAD 0.50 per warrant. The company has granted an over-allotment option to the placement agents to sell up to an additional 33,333,333 units at the same terms of the financing. The company may close the transaction in multiple tranches. All securities issued are subject to a hold period of four months. The transaction is subject to the regulatory approvals including the approval of the Canadian Securities Exchange.