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

- November 3rd, 2016

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”).

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.
Connect with Laguna Blends (CSE:LAG; OTCMKTS:LAGBF; FRA:LB6A) to receive an Investor Presentation.

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