Laguna Blends Over Subscribes Private Placement and Closes the Second Tranche of Private Placement

KELOWNA, BC – November 03, 2016 – Laguna Blends (CSE:LAG; OTCMKTS:LAGBF; FRA:LB6A) is pleased to announce a second tranche closing of its it non-brokered private placement (the “Private Placement”). The second tranche closing consisted of the issuance of 5,537,800 units at a price of $0.25 per unit for gross proceeds of $1,384,450. Laguna oversubscribed the private placement for a total of $1,791,250.  Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.40 per warrant share for a period of twelve months.
All securities issued under the second tranche are subject to a hold period expiring four months and one day from the date of issuance. In connection with the private placement, the company paid a cash or shares finder’s fee of up to seven per cent.
Bryan Loree, CFO of Laguna Blends said, “The demand of the Laguna private placement is a testament that Laguna is working hard to deliver shareholder value.  The additional capital will ensure that Laguna can continue to deliver on its business strategy.”
Read the full press release.
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