HempFusion Wellness Inc. Announces Amended Terms of Brokered Private Placement

HempFusion Wellness Inc. Announces Amended Terms of Brokered Private Placement
CANNANNEW REPORT

 NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES DENVER–(BUSINESS WIRE)–HempFusion Wellness Inc. (TSX:CBD.U) (OTCQB:CBDHF) (“HempFusion” or the “Company”), a leading health and wellness company offering premium probiotic supplements and products containing CBD, announces that it intends to amend the terms of its previously announced brokered private placement (the “Offering”) of convertible debenture units (the “Units”) led by Research Capital Corporation (the “Agent”) as sole agent and sole bookrunner. Pursuant to the Company’s press release dated March 1, 2022, the Company announced its intention to offer up to 3,000 Units at the issue price of US$1,000 per Unit for gross proceeds of up to US$3.0 million, with each Unit being comprised of: (i) US$1,000 principal amount of 10% senior secured convertible debentures of the Company (the “Convertible Debentures”) which will be convertible into common shares of the Company (each a “Common Share”) at a conversion price of US$0.15 per Common Share, subject to adjustment in certain events (the “Conversion Price”) and maturing on the date that is three (3) years from the date the Units are issued (the “Maturity Date”); and (ii) 3,333 common share purchase warrants of the Company (the “Warrants”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of US$0.20 per Common Share (the “Warrant Exercise Price”) until the Maturity Date. The proposed amendments to the terms of the Offering are as follows: – The Company will offer up to 2,233 Units for gross proceeds of up to US$2,233,000, plus a 15% over-allotment option granted to the Agent (up to an additional 335 Units); – The number of Warrants included in a Unit will be increased to 5,000 Warrants; – The Conversion Price will be amended to US$0.10 per Common Shares; and – The Warrant Exercise…

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Source : HempFusion Wellness Inc. Announces Amended Terms of Brokered Private Placement

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