Organic Flower Investments Group Inc. (CNSX:SOW) announced a private placement of 50,000,000 units at a price of CAD 0.07 per unit for gross proceeds of CAD 3,500,000 on August 10, 2020. Each unit consists of one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.50 for a period of five years from the date of issuance subject to accelerated expiry should the common shares trade on the TSX Venture Exchange at a price equal or greater than CAD 1.50 per share for a period of 10 consecutive trading days during the exercise period, the company may accelerate the expiry date of the warrants to 30 calendar days from the date express written notice is given by the Company. In connection with the transaction, the company paid finder’s fees through the issuance of an aggregate 3,380,000 Shares to arm’s length parties. All securities issued will be subject to a four-month hold period under securities laws.