Hemp for Health Consolidates Its Share Capital
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2021) - Further to its news release of November 17, 2021, HEMP FOR HEALTH INC. (CSE: HFH) (FSE: 9HH) (the "Company") announces that effective at the opening of trading on Thursday, December 2nd, 2021 (the "Effective Date") the shares of the Company will commence trading on the Canadian Securities Exchange (the "Exchange") on a consolidated basis, with one (1) new common share being issued for every two pre-consolidated shares (the "Consolidation").
As a result of the Consolidation, on the Effective Date, a total of 12,081,500 common shares will be issued and outstanding, subject to adjustments for rounding, with 4,264,500 warrants outstanding. No fractional shares will be issued. The name of the Company has not been changed, and the trading symbol remains as "HFH"). A New CUSIP number has been issued, being 42371G206.
Following the Consolidation, the Company intends to complete its previously announced private placement raising up to $1.2 million through the issuance of up to 24,000,000 units ("Unit") at a price of $0.05 per Unit (the "Financing"). Each Unit will consist of one post-consolidated share and one-half of one common share purchase warrant ("Warrant"), with each whole Warrant entitling the holder to purchase one post-consolidated share at $0.10 per share for a period of 24 months from closing. The Company will also be settling certain outstanding debt with various creditors in the aggregate amount of $400,125 through the issuance of up to 8,002,500 post-consolidated shares at a post-consolidated price of $0.05 per share (the "Debt Settlement"). (See news releases dated November 17 and 26, 2021.)
ON BEHALF OF HEMP FOR HEALTH INC.
(sgd.)" Robert Eadie
President & CEO
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Toll Free: 1-866-602-4935
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105299