FTI Announces $600,000 Private Placement
06 October 2020 - 6:02AM
(TSX Venture:FTI) FTI Foodtech International Inc. ("FTI") announces
that it intends to arrange a private placement for up to $600,000.
The proposed private placement would be a
non-brokered offering of 2,000,000 units of the Issuer, (the
“Units”), at a price of $0.30 per Unit. Each Unit will be comprised
of one Common Share and one common share purchase warrant (a
“Warrant”), each Warrant being exercisable to acquire one Common
Share at a price of $0.50 per Common Share for a period of one (1)
year following the closing date of the private placement.
The proceeds will be used for costs related to
sales and marketing of PPE supplies and the Rapid-Result
Serological COVID-19 Antibody Test Kit, to evaluate other
opportunities, to cover the company’s operating expenses and to
reduce company debt. A further press release will be issued once
the financing has been completed.
The TSX Venture Exchange Inc. has
not approved the contents of this press
release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or
accuracy of this release.
For further information, contact: William Hullah, President, FTI at (416) 444-1058.
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