News Releases
Cannabix Technologies Announces Non-Brokered Private Placement
February 1, 2016
Vancouver, British Columbia, February 1, 2016 -- Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF) (the “Company”), announces that it intends to raise up to $1,000,000 via a non-brokered financing at $0.15 cents per unit. Each Unit consists of one common share and one non-transferable common share purchase warrant exercisable at $0.25 cents per common share for a period of 24 months from the date of closing. All warrants are subject to an early acceleration provision which provides for the mandatory exercise or expiry of the Warrants in the event Cannabix’s shares close at $0.30 or higher for at least 10 consecutive trading days. In such event, the Warrants will accelerate and expire 30 days after the Company has given notice of the accelerated conversion to the Warrant holders. Finders' fees may be payable in connection with the private placement. Proceeds will be used for Company’s technology development and working capital.
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The information in these press releases is historical in nature, has not been updated, and is current only to the date indicated in the particular press release. This information may no longer be accurate and therefore you should not rely on the information contained in these press releases. To the extent permitted by law, Cannabix Technologies Inc. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.
