CENTR Brands To Secure Up To $5M Via Private Placement

CENTR Brands Corp. CNTRF CNTR (FSE:303) announced a non-brokered private placement of units at a price of $0.30 per unit for ‎aggregate gross proceeds of up to $5 million.‎

Each unit will consist of one common share of the company and one common share ‎purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of $0.50 per warrant share at any time on or before 5:00 p.m. (Vancouver time) on the date which is three years after the closing date of the offering, subject to adjustment in certain events. If, at any time following the closing date, the daily volume weighted average trading price of the common shares on the Canadian Securities Exchange is greater than $0.70 per common share for a period of 5 consecutive trading days (the "triggering event"), the company shall have the right to accelerate the expiry date of the warrants to a date not less than 30 days after the later of: the date that ‎notice of such acceleration is provided to the warrant holders; and ‎the date of issuance of a press release disclosing the occurrence of the triggering event‎.

The offering is scheduled to close on or about March 31, 2023, or such other date not exceeding 45 days from ‎the date hereof, as determined by the company. Closing of the offering is subject to receipt of all regulatory approvals, including approval of the CSE.

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