VANCOUVER, BC / ACCESSWIRE / January 30, 2020
The Placement consisted of 833,336 units (the “Units”) of the Company at a price of $0.60 per Unit. Each Unit consists of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share of the Company at a price of $0.65 until January 30, 2022. All securities issued in connection with the Placement are subject to a hold period expiring May 31, 2020.
The Company will use the net proceeds of the Placement for marketing, and general working capital purposes.
Bentsur Joseph, CEO of A2Z commented, “We want to thank our investors for putting their trust and hard-earned dollars with us. On behalf of myself and the management of the Company, I want to pledge our commitment to ensure shareholder value and feel a sense of responsibility to every single one of our investors who has put their faith in us. We will work vigorously to ensure shareholder value for every shareholder. We thank our investors for their commitment and look forward to our mutual journey together to grow our Company and save lives.”
In addition, the Company announces that it has issued 92,493 common shares of the Company, at a price of $0.726 per share, to Israel Morgenshtern (“Morgenshtern”) as consideration for services rendered by Morgenshtern to the Company pursuant to the terms of a consulting agreement. The shares are subject to a hold period expiring May 31, 2020. On a quarterly basis going forward, Morgenshtern’s quarterly fee of US$62,500 will be settled by the issuance of common shares of the Company, calculated in accordance with the average closing price of the Company’s common shares for the ten most recent trading days prior to such issuance, or such price as may be permitted by the policies of the Exchange. The securities issued to Morgenshtern are subject to a hold period expiring May 31, 2020.