On December 21, 2020, KABN Systems NA Holdings Corp. closed a non-brokered private placement of 19,999,997 units at a price of $0.15 per unit for gross proceeds of approximately $3 million.
Each unit consists of one common share of KABN and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of KABN at an exercise price of $0.20 for a period of 24 months following the closing date.
Cassels acted for KABN with a deal team that included Alison Manzer (Banking & Specialty Finance) and Greg Hogan and Florence Lau (Securities).