VANCOUVER, British Columbia, Oct. 14, 2016 (GLOBE NEWSWIRE) — Naturally Splendid (TSXV:NSP) announced today that it has increased its previously announced private placement financing (see news release dated July 29, 2016) to $4,000,000 (the “Offering”). The Offering will now consist of up to 14,814,814 units (each a “Unit”) at a price of $0.27 per Unit. As of the date of this news release, Naturally Splendid has closed two tranches of the Offering by issuing a total of 3,077,168 Units for total gross proceeds of $830,835.
Naturally Splendid plans to use the gross proceeds of the Offering for product development and general corporate purposes. In the event that Naturally Splendid receives subscriptions above the maximum, Naturally Splendid will adjust the subscriptions received on a pro-rata basis.
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