Transaction") of all of the issued and outstanding securities of
Nabati Foods Inc. ("
Nabati") pursuant to the terms of a share exchange agreement dated January 19, 2021, as amended (the "
Share Exchange Agreement") among the Company, Nabati and the shareholders of Nabati.
The Company is also pleased to announce that it has completed a brokered private placement of special warrants of the Company (the "
Special Warrants"), at a price per Special Warrant of $0.50 (the "
Issue Price"), and issued an aggregate 15,461,000 Special Warrants (including over-allotment option) for total gross proceeds of $7,730,500 (the "
Offering"). The Offering was conducted by Mackie Research Capital Corporation as sole bookrunner and lead agent on a commercially reasonable "best efforts" private placement basis.