Naturally Splendid Enterprises (the "Company") (TSX VENTURE:NSP) (NSPDF) (50N.F) is pleased to announce that its board of directors have approved a proposed private placement offering of up to 6,000,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of $1,500,000 (the "Offering").
Each Unit
will be comprised of one common share of Naturally Splendid and one-half
of one common share purchase warrant ("Warrant"), with each whole
Warrant entitling the holder to purchase one additional common share at
$0.40 per share for a period of two years from the date of the issue.
Naturally Splendid will have the right to accelerate the expiry date of
the Warrants if, at any time, the average closing price of Naturally
Splendid's common shares is equal to or greater than $0.50 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.
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