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VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2016) - Cannabix Technologies Inc. (CSE:BLO)(OTC PINK:BLOZF) (the "Company") is pleased to announce that it has closed its previously announced, oversubscribed, non-brokered private placement for gross proceeds of $2,082,004 through the sale of 13,880,025 Units. Each Unit is comprised of one common share ("Common Share") at $0.15 cents, and one non-transferable common share purchase warrant ("Warrant") exercisable at $0.25 cents per common share for a period of 24 months from the date of closing. All warrants are subject to an early acceleration provision which provides for the mandatory exercise or expiry of the Warrants in the event Cannabix's shares close at $0.30 or higher for at least 10 consecutive trading days. In such event, the Warrants will accelerate and expire 30 days after the Company has given notice of the accelerated conversion to the Warrant holders. |
