Cult Food Science Corp. (TSE:CULT) has released an update.
CULT Food Science Corp. has launched a private placement to raise $800,000 through the sale of 16 million units at $0.05 each, with each unit comprising a common share and a purchase warrant. The funds are earmarked for working capital and general corporate needs. Additionally, the company has settled a $140,940 debt with creditors by issuing common shares at a value determined by recent average share prices.
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