REPEAT - Hollister Biosciences Inc. Announces closing of $7.9M Private Placement of Special Warrants, Including Full Exercise of Agents' Option

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (" Hollister " or the " Company ") is pleased to announce, further to its news releases of January 21, 2021 and January 20, 2021 that the Company has now closed the brokered private placement of 21,635,094 Special Warrants of the Company (the " Special Warrants ") at a price of $0.365 per Special Warrant and raised gross proceeds of 7,896,809.31 (the " Offering "), including 3,825,094 Special Warrants sold pursuant to the exercise in full of the agents' option granted to the Agents (as defined herein).

Hollister Biosciences Inc. logo (CNW Group/Hollister Biosciences Inc.)

Eight Capital acted as sole bookrunner and lead agent, on behalf of a syndicate of agents including Haywood Securities Inc. and Paradigm Capital Inc. (together with Eight Capital, the " Agents ") under the Offering.

Each Special Warrant will be automatically exercisable into units of the Company (the " Units "), as described below. Each Unit consists of one common share of the Company (a " Share ") and one-half of one common share purchase warrant (each full warrant, a " Warrant "). Each Warrant will entitle the holder thereof to acquire one Share at a price of $0.50 per Share on or before January 2, 2025 , being 46 months following the date of closing of the Offering (the " Closing Date ").

Each Special Warrant will be automatically exercisable, for no additional consideration, into Units on the date (the " Automatic Exercise Date ") that is the earlier of: (i) the date that is three business days following the date on which the Company either (A) obtains a receipt from the applicable securities regulatory authorities (the " Securities Commissions ") for a (final) short form prospectus qualifying distribution of the Units underlying the Special Warrants (the " Qualifying Prospectus "); or (B) files a supplement to a (final) short form base shelf prospectus qualifying the distribution of the Units underlying the Special Warrants (the " Qualifying Supplement "), and (ii) July 3, 2021 , being the date that is four months and one day after the closing of the Offering.

Notwithstanding the foregoing, in the event the Company has not received a receipt from the Securities Commissions for the Qualifying Prospectus or filed a Qualifying Supplement on or before March 12, 2021 , each holder of Special Warrants shall thereafter be entitled to acquire an additional one-half of one (0.5) Warrant for each Unit to be issued to such holder upon the automatic exercise of the Special Warrants, such that each Unit shall be comprised of one Share and one whole Warrant (collectively, the " Penalty Warrants "), without further payment or action on the part of the holder.

In connection with the Offering, the Company paid the Agents $651,084.20 in commissions and advisory fees and issued 1,441,580 special broker warrants (the " Special Broker Warrants ") to the Agents. Each Special Broker Warrant is automatically exercisable into one broker warrant (a " Broker Warrant ") for no additional payment on the Automatic Exercise Date.  Each Broker Warrant will be exercisable into one Unit, subject to adjustment, at $0.365 per Unit for a period of 24 months from the closing of the Offering.  Each Unit is comprised of one Share and one-half of one Warrant.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on July 3 , 2021.  The net proceeds received from the Offering will be used for working capital and general corporate purposes.

About Hollister Biosiences Inc.

Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality cannabis & hemp products. Hollister uses a high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include HashBone, the brand's premier artisanal hash-infused pre-roll, along with concentrates (shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the "American Biker".

Website: www.hollistercannabisco.com

The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forwardlooking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile onwww.sedar.com

SOURCE Hollister Biosciences Inc.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/March2021/04/c3120.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)

Seelos Therapeutics Provides Update on Top-Line Results from its Amyotrophic Lateral Sclerosis Study with SLS-005

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today provided an update on top-line data of the Phase 23 HEALEY ALS Platform trial. This study was performed in collaboration with The Sean M. Healey and AMG Center, which is viewed as an influential force in ALS research and in caring for the ALS community. Their unique and innovative approach continues to be a benefit to the ALS community and its contributions have helped bring the last two FDA approved therapies for ALS to market.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Melodiol Global Health Limited

Appendix 4E Preliminary Final Report Year Ended 31 December 2023

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to present its Preliminary Final Year Report.

Keep reading...Show less

Compass Pathways Announces Fourth Quarter 2023 Financial Results and Business Highlights 

-

Highlights:
  • COMP360 phase 3 pivotal program ongoing; COMP005 trial top-line data now expected in fourth quarter 2024, COMP006 remains on track for top-line data in mid-2025
  • Teri Loxam to assume Chief Financial Officer role on March 1, 2024
  • Cash position of $220.2 million at December 31, 2023, additional $31.4 million net cash raised to date in first quarter 2024
  • Conference call February 29 at 8:00 am ET (1:00 pm UK)


Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today reported its financial results for the fourth quarter 2023 and provided an update on recent progress across its business.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Compass Pathways to participate in upcoming TD Cowen investor conference

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in a panel discussion at the TD Cowen 44th Annual Health Care Conference at 12:50 pm ET on March 4, 2024.

A live audio webcast of the panel discussion will be accessible from the "Events" page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following such event. For more information, please visit investor section of compasspathways.com.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Compass Pathways to announce fourth quarter and year-end 2023 financial results on February 29, 2024

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it will release financial results for the fourth quarter and year-end 2023 ending December 31, 2023, and provide an update on recent business developments, on February 29, 2024.

The management team will host a conference call at 8:00 am ET (1:00 pm UK) on February 29, 2024. To access the call, please register in advance here to obtain a local or toll-free phone number and your personal pin.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Melodiol Global Health Limited

Capital Raising & Corporate Update

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise it has received firm commitments to raise ~$1.08m (before costs) through the issue of approximately 106,415,113 new fully paid ordinary shares (‘Shares’) at an issue price of $0.01019 per Share (the ‘Placement’).

Keep reading...Show less

Latest Press Releases

Related News

×