Vancouver, BC – Havn Life Sciences Inc. (CSE : HAVN) (FSE : 5NP) (the “Company” or “Havn Life”) is pleased to announce that 10,927,856 common share purchase warrants (“Warrants”) have been exercised (“Exercise”), resulting in proceeds to the Company of $5.46 million. The Warrants had originally been issued by the Company pursuant to a private placement that closed on June 5, 2020 and were subject to an accelerated exercise period as a result of the Company’s share price remaining above $0.75 for a period of 10 consecutive trading days.
The Company notes that certain of the Warrants were sold by their original holders to third party buyers (the “Buyers”) prior to the Exercise thereof, including, a Buyer introduced by Canaccord Genuity Corp. to which the Company paid a cash commission of $80,000 or 8% of the subject exercise proceeds.
“In addition to the recently announced voluntary escrow agreement, the team is elated to have received such strong support from existing shareholders through the exercise of warrants and from new shareholders through the warrant purchases and immediate exercise,” said CEO, Tim Moore. “This capital will allow Havn Life to continue to push towards its 2021 development strategy. On behalf of the Havn Life team, I would like to thank our dedicated shareholders for the unwavering support.”
On Behalf of The Board of Directors
Chief Executive Officer
About Havn Life Sciences Inc.
Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds. Learn more at: havnlife.com and follow us on Facebook, Twitter and Instagram.
LinkedIn: @Havn Life