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LeanLife closes first round of financing, raises $1.15 million

The offering consisted of 22.9 million units at a price of C$0.05 for total gross proceeds of $1,146,000 million
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LeanLife's products are extracted from flax seeds, a plentiful and non-animal source of omega-3

LeanLife Health Inc (CSE:LLP) announced Friday it has closed its second round of funding, raising $1.14 million. 

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

The offering consisted of 22.9 million units at a price of C$0.05 for total gross proceeds of $1,146,000 million. 

READ: LeanLife Health taps Chris Nichols as operations advisor

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. 

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.

 

Contact Katie Lewis at [email protected]

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