Vapen MJ Ventures Corporation (CSE: VAPN) is pleased to announce it has closed its non-brokered private placement previously announced on May 13, 2019.  The Offering was oversubscribed from CDN$4,000,000 to  CDN$6,148,665 common shares at a price of CDN$1.00 per common share for gross proceeds of CDN$6,148,665.

In connection with the Offering, Vapen MJ paid finder’s fee of CDN$42,700 and issued 42,700 non-transferrable finder warrants. Each warrant is exercisable into one additional common share at a price of CDN$1.30 for a period of twelve months from May 22, 2019.

The net proceeds from the Offering are expected to  be used for equipment, business development and general working capital purposes.

All of the securities of the Company issued under the Offering are subject to applicable hold periods governed by securities regulation related to subscriber residency.  In addition, all securities are subject to a Canadian restricted legend expiring on September 23, 2019.