GTEC Holdings Ltd. (OTCMKTS:GGTTF – Get Rating) dropped 4.8% during mid-day trading on Friday . The stock traded as low as $0.20 and last traded at $0.20. Approximately 183,698 shares traded hands during trading, a decline of 89% from the average daily volume of 1,728,118 shares. The stock had previously closed at $0.21. The firm […]
GTEC Holdings Ltd. (OTCMKTS:GGTTF – Get Rating) shares were up 3.7% during mid-day trading on Friday . The stock traded as high as $0.24 and last traded at $0.23. Approximately 214,747 shares changed hands during trading, a decline of 88% from the average daily volume of 1,728,118 shares. The stock had previously closed at $0.22. […]
GTEC Announces Upsized Bought Deal Offering to $20 Million
March 11, 2021 10:09 ET | Source: GTEC Holdings Ltd. GTEC Holdings Ltd.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
KELOWNA, British Columbia, March 11, 2021 (GLOBE NEWSWIRE) GTEC Holdings Ltd. d/b/a GTEC Cannabis Co. (TSXV:GTEC) (OTCQB: GGTTF) (FRA: 1BUP) (“
GTEC”, the “
Company” or “
GTEC Cannabis Co.”) a multi-licensed producer of handcrafted, high quality cannabis, is pleased to announce that it has entered into a revised agreement with Desjardins Capital Markets and Eight Capital (the “
Underwriters”) to increase the size of the previously announced bought deal short form prospectus offering of units of the Company (the “
Non-Brokered Private Placement
The Company is also pleased to announce that it has completed its previously announced non-brokered private placement (the “
Offering”) of 13,750,000 units (each, a “
Unit”) at a price $0.20 per Unit for gross proceeds of $2,750,000. Each “Unit” issued in the placement consists of one common share and one half of one share purchase warrant entitling the holder to purchase one additional share at $0.30 for a period of three years from closing of the Offering.
The Company filed for price reservation based on the closing price per common share of $0.245 on February 5, 2021 (which was the 52-week high for the Common Shares as of February 5, 2021). Commitments to subscribe in the Offering that were received on or before the close of markets on February 9, 2021, totaled $2.75 million. Further commitments were later received with demand significantly exceeding the $4 million, however as a result of the increase in the Company’s share price,