Thetford Mines / TheNewswire / November 7, 2018 - KDA Group Inc. (TSXV: KDA) ("KDA Group" or the "Corporation") is pleased to announce that it has completed a non-brokered private placement with accredited investors totaling 13,930,333 units (the "Units") at a price of $0.15 per Unit for total gross proceeds of $2,089,550 (the "Private Placement").
Each Unit is comprised of one Class A Share of KDA Group and one warrant (the "Warrant"). Each Warrant entitles the holder to purchase one Class A Share at an exercise price of $0.20 per share for a period of 24 months ending November 7, 2020. The securities issued in connection with the Private Placement are subject to a four-month hold period expiring on March 8, 2019.
KDA Group will use the Private Placement proceeds for its working capital, general expenses and the settlement of short-term debts except those to subscribers. As a result of the Private Placement, there are 56,860,947 Class A Shares issued and outstanding and if all the Warrants are exercised by the holders a total 70,791,280 Class A Shares will be issued and outstanding.
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. No finder's fee is payable in connection with the Private Placement.
About KDA Group
KDA Group is a leading solution and service provider to the pharmaceutical market for the distribution of generic drugs and specialized solutions. Today, it is a respected name for quality and expertise among pharmacists. 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.
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