Vancouver, BC / September 8th, 2020 / BioHarvest Sciences Inc. (the “Company”, “BioHarvest”) (CSE: BHSC) is pleased to announce a private placement offering of up to 25,428,055 common shares at a price of $0.15 per share for total proceeds of up to $3,814,208.25 (the “Offering”).
The Company will issue up to 5% finder’s warrants and/or up to 5% finder’s cash commission to registered investment dealers and brokers or to finders in jurisdictions where permitted by law. The finder’s warrants will be exercisable to purchase a common share of the Company at a price of $0.15 per share for a period of 1 year from the date of issuance.
The securities to be issued under the private placement will have a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws.
The Company will use the funds to accelerate its VINIA® marketing program, to geographically expand the regulatory approvals of VINIA®, to invest in the required Capital Equipment for its new 20 Ton BioFarming manufacturing facility, and for general corporate purposes.
About BioHarvest Sciences Inc.
Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protectedBiofarming technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing the active plant ingredients without the necessity to grow the plant itself. The technology has been already validated by Vinia®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest. By adapting this technology to the Cannabis plant, and building adequate cells production capacity, BioHarvest Sciences Inc.’s objective is to become the leading supplier of Cannabis for both medicinal and recreational legal use. See the following hyperlink for a visual description of our Biofarming technology: BHSC’s Biofarming Technology