VANCOUVER, BC / ACCESSWIRE / June 28, 2021 / NHS INDUSTRIES Ltd ("NHS" or the "Company") (CSE:NHS)(OTC PINK:NNHHF) is pleased to announce that it has closed its previously announced private placement financing for gross proceeds of $3,252,375 through the issuance of 16,261,875 units at a price of $0.20 per Unit (a "Unit"). Each Unit is comprised of one common share and one transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company for a period of two years, subject to accelerated expiry, at a price of $0.30 per share in the first year and $0.45 per share in the second year.
In the event that the Company's common shares trade at a closing price at or greater than $0.60 per share for a period of 5 consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof, and in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company.
Under the private placement the Company paid aggregate cash finder's fees of $151,543 and issued an aggregate of 757,715 finder's warrants, each exercisable for one common share for two years at a price of $0.30 per share in the first year and $0.45 per share in the second year and subject to accelerated expiry as noted above.
The securities issued under the private placement are subject to a four month hold period which expires October 29, 2021. The Company intends to use the proceeds towards growing its portfolio of assets, marketing and distribution of the Company's products and general working capital.
Furthermore, the company is pleased to announce it has appointed to its Board of Directors Ms. Krystal Pineo and has accepted the resignation of Mr. Ming Gee Chiang.
Krystal Pineo is the founder of KP Capital, a family office and corporate advisory firm. Krystal was the co-founder and former director of The Yield Growth Corp (now Better Plant Sciences Inc), a CSE listed company offering a collection of high-efficacy, plant-based products for optimum health and wellness. Krystal is also the acting COO at Absolem Health Corp., a company focused on creating natural solutions for human health optimization through functional and medicinal products.
"We are extremely pleased with the level of interest in our financing offering, and also welcome Ms. Pineo, whose capital markets, health foods and consumer products experience is a tremendous addition to the Board of NHS Industries,"stated Robert Nygren, President and CEO of NHS.
About NHS Industries Ltd.
NHS is an agri-food holdings company focused on innovative products and technologies in the food services industry including its wholly owned Be Good plant-based foods line up of plant-based chicken, pork and beef products as well as is currently investing in the research and development of keto-friendly plant-based candy products.
Robert Nygren
Chief Executive Officer
[email protected]
(888) 202-5153
WWW.NHSINDUSTRIES.CA
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events,and current information available to them,and are subject to certain risks, uncertainties and assumptions, including, without limitation: the potential of the Company's mineral properties; the estimation of capital requirements; the estimation of operating costs; the timing and amount of future business expenditures; and the availability of necessary financing. Many factors could cause the actual results,performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets;increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and exploration or operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward- looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
SOURCE: NHS Industries Ltd.