Replenish Nutrients Holding Corp. (CSE: ERTH) (OTC: VVIVF) ("Replenish" or the "Company"), a leader in regenerative agriculture solutions, is pleased to announce that, in response to further investor demand, the Company has upsized its previously announced non-brokered private placement of units of the Company ("Units") for aggregate gross proceeds of a maximum of $1,000,000, including the Debt Settlement (as defined below), to $1,700,000 (the "Offering").
Replenish closed the first tranche of the Offering for aggregate gross cash proceeds of $460,000 and settled in the aggregate approximately $490,000 of debt (the "Debt Settlement") related to trade accounts payable to certain creditors of the Company (the "First Tranche").
Under the First Tranche of the Offering, the Company issued 11,847,262 Units at a price of $0.08 per Unit, with each Unit consisting of one common share of the Company ("Common Share") and one Common Share purchase warrant of the Company ("Warrant"), each whole Warrant entitling the holder to purchase one Common Share at an exercise price of $0.12 per Common Share for a period of two years following the issue date.
Closing of the second and final tranche of the Offering and Debt Settlement is anticipated to occur on or about April 24, 2025, and is subject to certain customary conditions, including, without limitation, approval of the Canadian Securities Exchange (the "CSE"). All of the securities issued under the Offering and Debt Settlement will be subject to a four-month and one-day statutory hold period. The Company did not pay any finder's fees in cash or securities.
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