Naturally Splendid Enterprises Announces $500,000 Private Placement

Naturally Splendid Enterprises Ltd. (TSXV:NSP) announced a proposed private placement offering of up to 2,857,142 units, for gross proceeds of $500,000, at a price of $0.175 per unit.

As quoted in the press release:

Each Unit will be comprised of one common share of Naturally Splendid and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share at $0.25 per share for a period of two years from the date of the issue. Naturally Splendid will have the right to accelerate the expiry date of the Warrants if, at any time, the volume weighted average price of Naturally Splendid’s common shares is equal to, or greater than $0.35 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Naturally Splendid issues a news release announcing that it has elected to exercise this acceleration right.

Click here to read the Naturally Splendid Enterprises Ltd. (TSXV:NSP) press release