True Leaf Brands Inc. (CNSX:MJ) announced a non-brokered private placement of a maximum of 25,000,000 units at a price of CAD 0.40 per unit for gross proceeds of CAD 10,000,000 on May 10, 2021. A portion of the gross proceeds will be raised through a crowdfunding platform. The transaction will include participation from certain directors and officers of the company. Each unit will consist of one common share and one-half of one common share purchase warrant of the company. Each warrant shall be exercisable for one common share at an exercise price of CAD 0.60 per share for a period of 24 months from the closing date. The warrants are subject to accelerated expiry in the event the closing price of the common shares of the company on the Canadian Securities Exchange is CAD 0.90 or more for a period of ten consecutive trading days on or after the date which is four months and one day from the date of issuance. The company may pay finders’ fees to eligible parties. All securities to be issued in connection with the transaction will be subject to statutory restrictions on resale for a period of four months and one day from the date of issuance. The transaction may close in one or more tranches on or before June 30, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the Canadian Securities Exchange.