Earthworks completes partial closing of private placement financing
Earthworks Industries Inc. (the “Company”), has closed Private Placement sales of 2,200,000 Units at $0.10 per Unit to provide the Company with gross proceeds of $220,000. Finder’s fees of $3,500 are being paid.
The Placements were of Units each consisting of one share of the Company and one-half of a Share Purchase Warrant. A whole Warrant will be exercisable to purchase one additional share of the Company for $0.15 until January 17, 2021.
The shares comprising the Units, and any shares issued pursuant to the exercise of any of the Warrants, will be subject to a non-trade holding period expiring at the close of business on Thursday, May 21, 2020.