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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