Vancouver/Toronto (pcJ News Briefs) – High Hampton Holdings Corp. (CSE: HC) has engaged First Republic Capital Corporation as exclusive lead agent in connection with a best efforts brokered private placement of up 10,000,000 subscription receipts at $0.50 per subscription receipt for gross proceeds of up to $5,000,000.
Each subscription receipt is automatically exchangeable into units, on the basis of one unit for each subscription receipt, upon the occurrence of certain events, including without limitation, the company having received all approvals of the Canadian Securities Exchange to acquire all of the issued and outstanding shares of CoachellaGro Corp., as previously announced on February 6, 2017, and the completion of a share consolidation on a ratio of 5:1 immediately prior closing the resulting in there being 9,232,648 common shares issued and outstanding.
Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable to acquire one common share at a price of $0.75 for a period of 24 months following the closing date.
High Hampton Holdings Corp.is focusing on potential strategic alliances with a view to negotiating a joint venture, acquisition or merger with an existing licensed roducer or an entity offering products or services in the marijuana sector that does not require a Health Canada license for its activities.
photo credit: High Hampton Holdings