HempNova Closes Non-Brokered Private Placement and Completes Name Change
/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/
VANCOUVER, May 6, 2019 /CNW/ - HEMPNOVA LIFETECH CORPORATION, formerly Pacific Link Mining Corporation (the "Company" or "HempNova") is pleased to announce that it has closed a non-brokered private placement of 9,500,000 shares at a price of $0.20 per share for gross proceeds of CDN$1,900,000. The shares are subject to a statutory hold period expiring September 4, 2019.
A finder's fee of $20,000 was paid in connection with this financing.
Proceeds from the financing will be used in the development of its hemp-based CBD oil extraction business in Oregon and for working capital.
As previously announced on April 17, 2019, the Company's name has been changed to HempNova Lifetech Corporation effective May 2, 2019 from Pacific Link Mining Corporation.
The Company voluntarily delisted its shares from the TSX Venture Exchange on May 1, 2019 and continues its efforts to secure a listing on the Canadian Securities Exchange.
ON BEHALF OF THE BOARD "Ken Cai", Acting President
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