M2Bio Sciences (OTC: $WUHN) ends the year with a US$450,000 private placement deal and thereby ready to hit the ground running when the calendar turns to 2021.
The company announced this morning that it is raising its first strategic financing round through a private placement deal. The deal is expected to be finalized by the end of January at the latest.
“Enchanted to have Sheldon Inwentash and his company ThreeD Capital aboard as our first strategic investor. Much more to come on this very synergistic alliance in the coming weeks” said CEO, Jeff Robinson.
Wuhan General Group Announces $450,000 USD Private Placement by ThreeD Capital Inc.
CAPE TOWN, SA / ACCESSWIRE / December 30, 2020 / WUHAN GENERAL GROUP, INC. (OTC PINK: WUHN) (“Wuhan” or the “Company”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to announce the following corporate update:
The Company is pleased to announce a private placement financing of $450,000.00 USD with ThreeD Capital Inc. In consideration, the Company will issue 1,500,000 units (the “Units”) at a price of $0.30 per Unit. Each Unit will consist of one (1) common share of the Corporation (a “Common Share”) and one Common Share purchase warrant (a “Warrant”) exercisable at $0.30 per Warrant. The Warrants will expire three (3) years from the date of issuance.
At the option of the Company, the Company may force the Holder to exercise the Warrant at a price per share equal to $0.30, provided that (i) the average closing bid price of the Company’s Common Stock as reported by the OTC Bulletin board shall have been equal to or greater than $1.00 for a period of twenty (20) consecutive trading days ending on the date preceding the date on which the Holder receives a notice from the Company in which it announces its intention to force the exercise of the Warrants. The closing date for the Private Placement will be at the latest January 30, 2021.
“Enchanted to have Sheldon Inwentash and his company ThreeD Capital aboard as our first strategic investor. Much more to come on this very synergistic alliance in the coming weeks” said Jeff Robinson, CEO of Wuhan General Group.
Full Disclosure: Jeff Robinson is the CEO, Dr.Anna Morera Leralta the CMO, and Luka Marjanovic is the Director of HR of M2Bio Sciences. Please feel free to contact Jeff via email at email@example.com.