BULLETIN V2024-0050
YERBAE BRANDS CORP. ("YERB.U")
BULLETIN TYPE: Private Placement - Brokered
BULLETIN DATE: January 4, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Brokered Private Placement announced on November 15, 2023:
Number of Securities: 1,003,468 Special Warrants of which each will automatically convert into one unit ("Unit") of the Company upon the earlier of (a) four months and one day after closing of the offering, and (b) the third business day after certain filings and/or receipts for prospectus offerings from the security regulator in each qualifying jurisdiction are received. Each Unit consists of one common share of the Company ("Share") and one Share purchase warrant ("Warrant").
Penalty Provision: If the Company fails to qualify the distribution of the underlying securities in the qualifying jurisdictions by January 31, 2024, the holders of Special Warrants will be entitled to receive 1.1 Units (up to an additional 100,346 Units) upon exercise of each Special Warrant without further payment on the part of the holder.
Purchase Price: $1.50 USD per Special Warrant.
Warrants: 1,003,468 Warrants to purchase 1,003,468 Shares. Plus, up to an additional 100,346 Warrants to purchase up to an additional 100,346 Shares upon the trigger of the Penalty Provision.
Warrant Exercise Price: $1.75 USD for a period of 24 months after issuance.
Number of Placees: 19 Placees.
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Special Warrants
Aggregate Existing Insider Involvement: N/A N/A
Aggregate Pro Group Involvement:
[5 Pro Group Members]
P
185,037
Brokers' Fees: Cash Amount ($ USD) # of Broker Shares # of Broker Warrants
Raymond James Ltd. $15,055.43 14,230 18,746
Echelon Wealth Partners Inc. NIL 14,230 18,746
Beacon Securities Limited NIL 1,581 2,083
Roth Canada Inc. NIL 1,581 2,083
Broker Warrants are exercisable into Broker Shares of the Company at an exercise price of $1.50 USD for a period of 36 months from the date of issuance.
The Company issued a news release on December 7, 2023, confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
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