Havn Life Sciences Inc. (OTCMKTS:HAVLF) has announced a product listing deal for various of its health products that will be sold in certain Nesters Markets in British Columbia. The range of natural health products will be available on shelves across the province from Q1 and Q2 2021.
New products to launch in Q1/Q2 2021
Tim Moore, Havn Life’s CEO said that this is a huge milestone for Havn Retail as it enables the company to hit its target of launching its product line in early 2021. Moore said that Nesters Market is a renowned high-quality items provider in British Columbia and has also been an early adopter of the latest product lines. He added that the company’s formulations are naturally derived and bioavailable and most important created with consideration of human optimization. Havn Life has thoughtfully formulated the products with antioxidants and adaptogens to help in overall brain health.
The seven formulations that will be available on Nesters Markets include Mind Mushroom, Rhodiola Relief, Bacopa Brain, Chaga immunity, Cordyceps Perform, Lion’s Mane Memory, and Reishi Recharge. Moore said that as they introduce the products to the market they will leverage a multi-pronged distribution strategy including retail, online, subscription as well as other channels.
Havn Life files short form prospectus
Recently the company announced the filing of a short form prospectus, further to the announced offering on December 15, 2020, with securities commissions in each Canadian province except Quebec. According to the underwriting agreement, Eight Capital which the underwriter has agreed to buy 9.346 million units of the company on a bought deal basis. They will buy the units at CAD$1.07 for total proceeds of around CAD$10 million. Equally the company granted the underwriter a 15% over-allotment option to acquire more units at the issue price exercisable any time before 30 days following the completion of the transaction.
Each unit comprises a common share and a common share purchase warrant of the company. The warrants are exercisable for the purchase of one share at CAD$1.34 for 36 months after the closing of the transactions.