Xebra Brands Announces Private Placement and Debt Settlement

Xebra Brands Ltd, a cannabis company, announced plans for a non-brokered private placement of up to 3,000,000 units at $0.05 per unit, aiming to raise $150,000. Each unit includes one common share and a half-share purchase warrant, exercisable at $0.10 within 24 months post-closing.

The company also plans a debt settlement worth $450,000, issuing 9,000,000 common shares at $0.05 each to settle fees owed to officers and consultants. This move prioritizes preserving funds for operations and growth opportunities.

The transactions, subject to regulatory approvals, are expected to close around January 30, 2025. Proceeds will support general corporate needs. Participation by certain insiders classifies the transaction as a "related party transaction" under MI 61-101 regulations.