Each unit consists of one common share of 360 Blockchain and one common share purchase warrant, the Vancouver-based company said in a press release. Each warrant is exercisable at C$0.05 for a period of two years from closing.
The proceeds will be used for general working capital and to finance future investments.
Shares slipped C$0.01 to C$0.03 in Tuesday’s Canadian trading and fetched US$0.03 on the OTC Markets.
In October, the company said its ICO Ranker portfolio firm had appointed Kyle Maron as its vice president for business development.
Contact Dennis Fitzgerald at [email protected]