VANCOUVER, British Columbia – TheNewswire – June 5, 2020 – Naturally Splendid Enterprises Ltd. (“Naturally Splendid”)
(TSXV:NSP) (OTC:NSPDF) (Frankfurt:50N) is pleased to announce that it has closed its non-brokered private placement financing for a total of 42,857,159 units (the “Units”) at $0.035 per Unit, for total gross proceeds of $1,5,000,000. Each Unit consists of one common share of Naturally Splendid and one common share purchase warrant (each a “Warrant”), with each Warrant entitling the holder to purchase one additional common share for a period of two years from the date of the issue at an exercise price of $0.055 per share.
Naturally Splendid has the right to accelerate the expiry date of the Warrants if, at anytime, the average closing price of Naturally Splendid’s common shares is equal to or greater than $0.10 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after Naturally Splendid issues a news release announcing that it has elected to exercise this acceleration right.