Terrace Global Inc. announced they closed the previously announced non-brokered private placement (the “Private Placement”) of 120,000,000 subscription receipts at an issue price of $0.125 per Subscription Receipt for aggregate gross proceeds of $15,000,000. Francisco Ortiz von Bismarck, Chief Executive Officer of the Corporation said, “We are extremely pleased to be able to close this Private Placement which significantly bolsters our balance sheet. At a time when many of our peers are operating with constrained capital resources, we are in the fortunate position of having significant cash on our balance sheet without any debt.” The Subscription Receipts were issued pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement”) between the Corporation and Computershare Trust Company of Canada as a subscription receipt agent.

Mmp News Author, Medical Marijuana Program Connection, 09/09/2020 18:01:17

Open article: https://mmpconnect.com/terrace-global-announces-closing-of-15-million-financing/