Thetford Mines, Quebec -TheNewswire - November 25, 2020 - KDA Group Inc. (TSXV: KDA) ("KDA" or the "Corporation") is pleased to announce the closing of a private placement with accredited investors totaling 8,000,000 units (the "Units") at a price of $0.15 per Unit for total gross proceeds of $1,200,000 (the "Private Placement").
Each Unit consists of one Class A Share of KDA ("Common share") and one Common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common share of the Corporation at an exercise price of $0.20 per Common share for a period of 12 months ending November 24, 2021.
The Corporation paid a cash commission of $10,132.50 in relation to this Private Placement and issued 67,550 non-transferable share purchase warrants (the "Broker warrants"). Each Broker warrant entitles the holder to purchase one Common share at an exercise price of $0.15 per Common share for a period of 12 months ending November 24, 2021. All securities issued in connection with the Private Placement are subject to a mandatory four-month hold period expiring on March 25, 2021 in accordance with applicable securities regulations.
KDA will use the Private Placement proceeds for its working capital, general corporate purposes and the settlement of short-term debts except those to subscribers.
The Private Placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange.
ABOUT KDA GROUP
KDA Group is a leading innovation and specialized solution provider in the pharmaceutical market. Today, it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
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CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release from KDA Group contains forward-looking statements. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. By their nature, forward-looking statements require us to make estimates and assumptions and express opinions based on current conditions and anticipated developments, as well as other factors that Management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore subject to change. KDA Group cannot guarantee that these estimates, assumptions, and opinions will prove to be accurate.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Chief Executive Officer
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