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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  TransCanna Holdings Inc.    TCAN   CA89356V1040

TRANSCANNA HOLDINGS INC.

(TCAN)
  Report
Delayed Quote. Delayed CANADIAN NATIONAL STOCK EXCHANGE - 01/15 10:12:14 am
0.85 CAD   -4.49%
01/08TRANSCANNA : Subsidiary Exceeds 30%THC in Independent Test
AQ
01/07TransCanna Subsidiary Exceeds 30% THC In Independent Test
NE
2020TransCanna Reports AGM Results
NE
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SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

TransCanna Closes 1st Tranche of Unit Financing

11/18/2020 | 07:25pm EST

Vancouver, British Columbia--(Newsfile Corp. - November 18, 2020) -  TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) ("TransCanna" or the "Company") is pleased to announce that it has closed the 1st tranche of a Unit financing. In connection with the closing, the Company issued 1,838,000 Units at a price of $0.55 per Unit, for gross proceeds of $1,010,900. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company's share price on the CSE or such other stock exchange the Company's shares may be trading on is equal to or greater than $1.25 for a period of 20 consecutive trading days. 63,040 Broker's warrants were issued in connection with finder's fees payable and in lieu of 8% cash finder's fees, 63,040 Broker's Units were issued.

The private placement is subject to the approval of the Canadian Securities Exchange ("CSE") and the securities will be subject to a four-month hold period under securities laws. The Company intends to use the net proceeds from the private placement for working capital purposes.

The Company did not file a material change report more than 21 days before the expected closing of the private placement as the details of the private placement and the participation therein by related parties of the company were not settled until shortly prior to closing and the company wished to close on an expedited basis for sound business reasons and in a time frame consistent with usual market practices for transactions of this nature.

About TransCanna Holdings Inc.

TransCanna Holdings Inc. is a California based, Canadian listed company building Cannabis-focused brands for the California lifestyle, through its wholly-owned California subsidiaries.

For further information, please visit the Company's website at www.transcanna.com or email the Company at info@transcanna.com.

On behalf of the Board of Directors
Bob Blink, CEO
604-349-3011

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68520


© Newsfilecorp 2020
All news about TRANSCANNA HOLDINGS INC.
01/08TRANSCANNA : Subsidiary Exceeds 30%THC in Independent Test
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01/07TransCanna Subsidiary Exceeds 30% THC In Independent Test
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2020TransCanna Reports AGM Results
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2020TransCanna Closes 1st Tranche of Unit Financing
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Financials
Sales 2019 0,24  0,19  0,19 
Net income 2019 -25,8 M -20,3 M -20,3 M
Net Debt 2019 10,5 M 8,27 M 8,27 M
P/E ratio 2019 -0,58x
Yield 2019 -
Capitalization 43,8 M 34,7 M 34,5 M
EV / Sales 2018 -
EV / Sales 2019 126x
Nbr of Employees -
Free-Float 92,6%
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Managers and Directors
NameTitle
James Robert Blink Chief Executive Officer & Director
Wesik Stephanie President & Director
Douglas Lawrence Mason Chairman
Michele Pillon Chief Financial Officer
Stephen J. Giblin Director
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