Wildflower Brands (CSE: SUN) (OTCQB: WLDFF) on Wednesday announced that it has closed its previously announced private placement for aggregate gross proceeds of up to $1,882,000 at a price of C$0.54 per unit. According to the update, each unit consists of one issuer common share and one half of one share purchase warrant. Holders of each whole warrant will be entitled to acquire one Wildflower common share at a price of $0.85 for a period of 24 months. Once resale restrictions have expired and upon the company’s shares trading at or above a weighted average price of $1.50 for 20 consecutive trading days, Wildflower may give notice that the warrants will expire 30 days from the date of such notice (in writing to warrant holders and via a news release). The company intends to use the financing proceeds to fund build out of its Washington state manufacturing capability to meet the increasing demand for Wildflower products, as well as for general working capital.
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About Wildflower Brands
Wildflower Brands is a company headquartered in Vancouver building reputable brands and quality products that incorporate the synergistic effects of plants and their extracts. For more information, visit the company’s website at www.WildflowerBrands.co
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