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Verde AgriTech Announces Brokered LIFE Financing of Up to $4.5 Million
Globenewswire· 2026-03-03 03:50
Core Viewpoint - Verde AgriTech Ltd. is conducting a brokered private placement to raise up to $4,500,000 through the sale of units priced at $1.20 each, which will include ordinary shares and warrants [1][2]. Group 1: Offering Details - The offering consists of up to 3,750,000 units, each unit comprising one ordinary share and one share purchase warrant [1][2]. - Each warrant allows the holder to purchase an additional share at a price of $1.65 for a period of 30 months following the closing date [2]. - The offering will be conducted on a "best efforts" basis by A.G.P. Canada Investments ULC, which will act as the lead agent [1]. Group 2: Regulatory and Financial Aspects - The units will be offered under the listed issuer financing exemption, allowing for the securities to be issued without a hold period in certain Canadian provinces [3]. - The agent will receive a cash commission of 6.0% of the gross proceeds and will be issued non-transferable broker warrants representing 3.0% of the units sold [4]. - The net proceeds from the offering will be used to advance the Minas Americas Global Alliance rare earth project, including resource definition drilling and technical de-risking [5]. Group 3: Timeline and Conditions - The offering is expected to close on or about March 12, 2026, subject to necessary approvals, including from the Toronto Stock Exchange [6]. - The offering document will be available on the company's profile on SEDAR+ and its website for prospective investors [7]. Group 4: Company Overview - Verde AgriTech is a Brazil-focused specialty fertilizer company listed on the TSX and OTCQX, advancing its rare earth project in Minas Gerais [9].