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LeoNovus announced a fully-subscribed non-brokered private placement of CDN $1,500,000 by way of issuance of up to 30,000,000 Units at a price of CDN $0.05 per Unit.

LeoNovus (TSXV:LTV) announced a fully-subscribed non-brokered private placement of CDN $1,500,000 by way of issuance of up to 30,000,000 Units at a price of CDN $0.05 per Unit.
As quoted in the press release:

Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one (1) Common Share for a period expiring on the day that is eighteen (18) months after the issuance of the Units at a price of CAD $0.075 per Common Share. The Warrant will expire at 5:00 p.m. (Ottawa time) on the expiration date.
In connection with the Offering, the Company will pay cash commissions of seven percent (7%) of the principal amount raised and will issue broker units (the “Broker Units”) in an amount up to seven percent (7%) of the number of Units issued to investors introduced to LeoNovus, exercisable on the same terms as the private placement for a period of eighteen (18) months from the closing date of the Offering.

Click here to read the full press release.

Source: www.newswire.ca

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