Urban Barns Foods Inc. (OTCPK:URBF) announced a private placement of units at $0.05 per unit on September 11, 2014. The transaction will involve participation from new investor Hector Larivee Inc and a member of the company's executive team.

On September 18, 2014, Urban Barns Foods Inc. closed the transaction. The company issued 3,510,000 units at $0.05 per unit for gross proceeds of $175,500. Each unit consists of one share of its class A common stock and one warrant exercisable into one share of its class A common stock at a price of $0.075 per share for a term of three years.