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LeanLife closes first round of financing: raises $750,000

The company said the funds will be used for used for general working capital
LeanLife closes first round of financing: raises $750,000
LeanLife Health's products are extracted from flax seeds, a plentiful and non-animal source of omega-3

Nutritional additive and ingredients group LeanLife Health Inc. (CSE:LLP) announced Thursday it has closed its first round of funding, raising $750,000. 

The company said funds will be used for used for general working capital.

The offering consisted of 15 million units at a price of C$0.05 for total gross proceeds of $750,000. 

READ: LeanLife Health poised for production at new plant once permits are in place

Each unit will consist of one share and one transferable share purchase warrant, which is exercisable into one further share at a price of C$0.075 per share for three years from closing.

LeanLife delivers high concentration levels of omega-3 as a nutritional additive. Its products are for use in commercial food processing.

Last month, it updated on its manufacturing capability, revealing that the main equipment had been purchased and delivered to the new facility in Canada. 

The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.

Such products will include ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

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LeanLife Health Timeline

February 07 2019

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