Maple Leaf Green World Raises $200,000
Maple Leaf Green World Inc. (TSXV:MGW) announced that it’s closed the first tranche of a private placement for aggregate gross proceeds of $200,000. The second and final tranche is expected to close on or before April 24, 2015.
As quoted in the press release:
Maple Leaf will pay finder’s fees in the amount of $2,100 to qualified arm’s length parties. Net proceeds from the first tranche are $197,900. A total of 4,000,000 units of the Company have been sold at a price of $0.05 per unit, each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.075 for two years from the date of issue.
All securities issued under this private placement will be subject to a four month hold period, which will expire on August 9, 2015. The net proceeds of this financing will be used to advance the Company’s California medical marijuana project and for general corporate purposes. Immediately following the first closing of the unit offering, Maple Leaf will have 94,136,427 common shares issued and outstanding.