Coho Collective Kitchens Inc. announced a brokered private placement of 27,272,727 units of the company at a price of CAD 0.22 per unit for the gross proceeds CAD 6 million on June 15, 2023. Each unit will be comprised of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share at a price of CAD 0.40 per warrant share for a period of 36 months from the closing date of the offering.

The company expects to close the offering on or about July 31, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. As a part of transaction, the company will pay a cash commission equal to 8.0% of the aggregate gross proceeds of the offering payable in cash or units, or any combination of cash or units at the option of the Lead Agent (the “Cash Commission”) and common share purchase warrants of the company, exercisable at any time prior to the date that is 36 months from the closing date to acquire that number of units equal to 8.0% of the number of units issued under the offering, at an exercise price equal to the Issue Price (the “Agent's Warrants”). On the closing of the offering, the company shall also pay the Lead Agent a corporate finance fee consisting of CAD 50,000 (payable in cash) and (ii) 227,272 Units (having a value equal to CAD 50,000.)