High Hampton Announces Brokered Private Placement of up to $5,000,000



Toronto, Ontario (FSCwire) - High Hampton Holdings Corp. (“High Hampton” or the “Company”) (CSE: HC) is pleased to announce that it has retained First Republic Capital Corporation (the “Agent”) to act as exclusive lead agent in connection with a best efforts brokered private placement to raise gross proceeds of up to $5,000,000 (the “Offering”). Pursuant to the Offering, the Company intends to issue 10,000,000 subscription receipts (the “Subscription Receipts”), at a price of $0.50 per Subscription Receipt, for total gross proceeds of $5,000,000.

 

Each Subscription Receipt is automatically exchangeable into units (“Units”) of the Company, on the basis of one Unit for each Subscription Receipt, upon the occurrence of certain events, including without limitation, the Company having received all approvals of the Canadian Securities Exchange to acquire all of the issued and outstanding shares of CoachellaGro Corp. (the “Transaction”) (as previously announced on February 6, 2017) and the completion of a share consolidation on a ratio of 5:1 immediately prior closing the (“Consolidation”) resulting in there being 9,232,648 common shares issued and outstanding.

 

Each Unit will consist of one common share and one-half of one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.75 for a period of 24 months following the closing date of the Offering.

 

In connection with the Offering, the Agent will be entitled to a corporate finance fee in an amount equal to 2% of Subscription Receipts sold and a sales commission of 7% of the aggregate gross proceeds of the Subscription Receipts sold. Additionally, the Company will issue to the Agent corporate finance options entitling the Agent to purchase a number of common shares equal to 2% of the aggregate number of Subscription Receipts sold and selling compensation warrants entitling the Agent to purchase a number of common shares equal to 7% of the aggregate number of Subscription Receipts, at an exercise price equal to the Offering price for 24 months following the date of closing the Offering. The Company shall not pay any compensation to the Agent on Subscription Receipts closed directly with the Company and sold to parties brought into the Offering by the Company, each party to be properly set out in the list provided by the Corporation to the Agent and approved by the Agent.

 

Completion of the Offering is subject to receipt of Canadian Securities Exchange approval and other requisite approvals. All of the securities issuable in connection with the offering will be subject to a hold period expiring four months and one day after date of issuance.

 

 

 

For further information regarding this news release contact:

Brendan Purdy, CEO                                                                                                                       

Tel: (416) 276-4581 or by email at brendan@purdylaw.ca

 

or

 

Song Lee, Associate, First Republic Capital Corp.

Tel: (416) 957-6300 or by email at song@firstrepubliccapital.com

 

On behalf of the Board of Directors                                                                                             

High Hampton Holdings Corp.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 

The Canadian Securities Exchange has in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this press release.

 

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATED SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

 

 



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/HighHamptonApr182017.pdf

Source: High Hampton Holdings Corp. (CSE:HC)

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