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VANCOUVER, BC--(Marketwired - June 01, 2016) - Network Life Sciences Inc. (CSE: NOI) (CNSX: NOI) (FRANKFURT: 2NY1), ("Network", "the Company") announces that it has completed a private placement of $400,000 by issuing units of securities at $0.05/unit. Each unit is comprised of one common share and one share purchase warrant to purchase one additional common share at $0.06 for a one year term from the date of issue. The Company will issue 8,000,000 shares and 8,000,000 warrants. The Company additionally has entered into shares-for-debt settlement agreements whereby it will issue up to 5,686,312 shares ("Shares") to current creditors of the Company at $0.05 per share for settlement of amounts due aggregating $284,316. The shares-for-debt settlements and private placement shares and warrant shares will be subject to a 4-month and one day hold period. |
