MONTREAL, Aug. 6, 2021 /CNW Telbec/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is announcing that it intends to sell, on a private placement basis, up to 30,000,000 units (the "Units") at a price of $0.03 per Unit, for gross proceeds to the Company of up to $900,000. The issue price of the Units is equal to the closing price of the Lumiera shares on the TSX Venture Exchange on August 5, 2021.
Following the success and high demand of their June 2021 Private Placement, Lumiera has opened a second strategic private placement with the proceeds from the Private Placement to be used to amend and reimburse a portion of the outstanding debt facility with their third party private lender ("Lender"), as well as to accelerate growth with key marketing investments and partnerships. " We have reached many milestones over the last few months, reducing our debt ratio is another key step towards overall profitability ", said Simon Castonguay, CFO of Lumiera.
Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to acquire one additional Common Share, at an exercise price of $0.06 per share, for a period of four years from the date of issuance.
The Company intends to include an acceleration clause in the certificates representing the Warrants whereby the Company may accelerate the expiry of these Warrants at any time prior to the expiry date in the event the daily volume weighted average trading price of the Common Shares of the Company on the TSX Venture Exchange exceeds $0.12 for at least 10 consecutive trading days by providing written notice to the warrant holders (the "Acceleration Notice"). The Warrants will, unless exercised, expire on the 30th day after the Company provides the Acceleration Notice.
The Company may pay registered dealers a cash commission equal to up to 7.5% of the aggregate proceeds raised in the private placement and issue broker warrants entitling such dealers to purchase such number of Units equal to up to 7.5% of the aggregate of number of Units issued in the private placement, at the same issue price as the Units. The final terms of the broker warrants will be confirmed prior to closing.
The offering is expected to close on or before September 3, 2021. The closing of the private placement is subject to certain standard conditions including, but not limited to, the receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.
About Lumiera Health
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also developing and commercializing a unique range of products acting on the endocannabinoid system and offering novel solutions for the treatment of acute and chronic pain. A pioneer in innovation of plant-based health solutions, the Lumiera brand is rooted in the core values of science, nature and compassion. Passionate about making people feel better, we deliver trustworthy and scientifically proven solutions that work with the body's own systems.
For more information visit: www.lumiera.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2020, which is available under the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
SOURCE Lumiera Health Inc.
© Canada Newswire, source Canada Newswire English