16 December 2020
Kaizen Discovery Inc. is pleased to announce that it has completed its previously announced non-brokered private placement.
In connection with the closing of the Offering, the Company has issued an aggregate of 26,300,000 units of the company at a price of $0.05 per Unit for gross proceeds of $1,315,000. Each Unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder, on exercise, to purchase one Share for a period of 24 months following the closing date of the offering at the exercise price of $0.075 per Share.
Kaizen's majority shareholder, HPX TechCo Inc. has subscribed for 26,000,000 Units, and as of closing, has increased its ownership to 73.2% of the Company's shares outstanding.