Red Light Holland Announces Institutional Lead Order for a Fully Subscribed $5 Million Private Placement

Shares :


Toronto, Ontario–(Newsfile Corp. – June 1, 2020) – Red Light Holland Corp. (CSE: TRIP) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of a premium brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce the proposed Offering (as defined earlier today) announced earlier today is now fully subscribed, upon receiving a significant lead order from an institutional investor.

“We are elated to receive additional capital into Red Light Holland so quickly which will enable us to focus on executing on our business plan and to build a leading premium brand within the Netherlands and globally. The fact that we were able to source such a significant lead order so soon after going public shows the confidence investors have in our Company’s team and vision. Cash is king and we are cashed up and ready to rock,”

-said Todd Shapiro, CEO and Chairman.

The Closing Date is scheduled to be on or about June 8, 2020, upon completion of certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE and the applicable securities regulatory authorities.

Offer presented earlier

30,304,000 units (the “Units”) at an offering price of $0.165 per Unit (the “Issue Price”), for aggregate gross proceeds of $5,000,160 (the “Offering”). The Units will be offered on a best efforts basis by Eight Capital, as agent for the Company (the “Agent”), by way of a private placement.

Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.26, for a period of 48 months following the closing of the Offering (the “Closing Date”).

The Company has agreed to grant the Agent an over-allotment option (the “Over-Allotment Option”) to offer for sale up to an additional 20% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 48 hours prior to the Closing Date. If this option is exercised in full, the Company will receive an additional $1,000,032 in gross proceeds for total aggregate gross proceeds of $6,000,192.

If, following the date that is four months and one day following the Closing Date, the volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the “CSE”) for any 10 consecutive trading days equals or exceeds $0.50, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

In connection with the Offering the Company has agreed to pay Eight Capital a cash fee of 7% of the aggregate gross proceeds raised from the Offering, and non-transferable compensation warrants equal to 7% of the Units sold under the Offering (in each case including any exercise of the Over-Allotment Option).

About Red Light Holland Corp. 

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chairman and Chief Executive
Tel: 647-204-7129


This article is written and published by The Cannabis Stock

Disclaimer : The Cannabis Stock wants to promote the cannabis market with the best articles and news on the market. The Cannabis Stock does not recommend selling or buying any of the company mentioned and is not responsible for any losses that may result. The Cannabis Stock are engaged in the business of marketing and advertising companies

Click on a star to rate this article !

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Shares :