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Vancouver, British Columbia (Newsfile Corp. - January 29, 2021) - EGF Health Holdings Corp. (the Company ) announced today that it has increased its private placement to up to 12,307,692 units at a price of $0.325 per unit for gross proceeds of up to $4,000,000. Each unit consists of one common share and a half warrant. Each whole warrant will entitle the subscriber to purchase an additional common share at an exercise price of $0.50 per share for a period of one year from the closing of the private placement.
The first tranche of the private placement consisting of 6,515,277 units and proceeds of $2,117,465 closed on January 8, 2021.
The proceeds from the private placement will be used for general working capital and for the closing of the MRVL Island Ventures Ltd. transaction. Finder s fees will be paid on the private placement.