Shares of Simply Better Brands (OTCMKTS:PKANF) (TSXV:SBBC) have been moving within a narrow range over the past few weeks.
Market Reaction
On Monday , PKANF stock ended flat at $3.99 with 985 shares, compared to its average volume of 51 shares. The stock has moved within a range of $3.9923 – 3.9923 after opening trade at $3.9923.
Major Details
Simply Better Brands Corp. (OTCMKTS:PKANF) (TSXV:SBBC) announced on February 07, 2022, about its intention to complete a non-brokered private placement (offering), of up to 348,028 units of the company. Pricing is $4.31 per unit for aggregate gross proceeds of up to $1,500,000. No commissions or fees are payable in regards to this offering.
Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to buy one common share at a price of $5.06 per common share. They can make the purchase at any time up to 4 pm (Calgary time), on or prior to two years after the closing date of the offering.
Net proceeds of the offering will be diverted towards repaying debt. Completion of offering is pending as it is subject to getting the green light by the TSX Venture Exchange. Closing is expected to take place on or around February 11, 2022, once all closing conditions have been satisfactorily fulfilled by the company. All units, including underlying securities, will have a hold period of four months and one day from the date of issue.
The company has also cleared the fourth quarterly payment to BLIC Holdings LLC for services shares, via issuance of 19,157 Common Shares at a deemed price of USD$3.915 (after approval from TSX Venture Exchange).
