Offer Details
The company is offering 1,000,000 shares at an issue price of US$ 1.00 per share to raise US$ 1,000,000.
Key information relating to offer is set out below:
Equity Offer
US$ 25,000 for 0.22%
US$ 1,000,000 for 8.85%
Share Offer
Up to 2,000,000 Shares
at US$ 1.00 per Share
The offered securities are offered wherein the composition of each unit is as follows:
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A minimum application of US$ 25,000 per investor per pledge, No maximum amount.
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US$ 100,000 Minimum Target
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Pledges will only be confirmed if the minimum target is reached by 15/02/2021 at 8:00 AM (PST)
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Open for Up to 40 investors only.
To participate in the offer, you must submit a completed investment application form, all the instruction on how to invest under the offer could be found here
The company must close the offer early in certain circumstances, for example, if the Maximum investment is reached, the offer must be closed. If the minimum investment is not reached or the offer is closed but not completed, you will not be charged for your pledge. Investors may withdraw their application during the Cooling-off period.
The offer is not underwritten.
Capital Structure
As at the date of this offer, the company has 10,275,000 class A share, as set out in the table below, the 10,275,000 shares are held by the company founders, Executives, and 1st round investors.
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Founders include – Yohai Nir, Nduka L. Mbomson, Alon Shmuel
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Executives Include – Masimba Mavaza.
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The company signed an options agreement of up to 3% of the company equity with Shlomo Booklin.
Use of proceeds
The proceeds of the Total Financing will be used for the establishment and implementation of a Medical cannabis project in Zimbabwe through a fully owned Zimbabwean subsidiary of NIRCOM. The Total Financing Proceeds will be used towards, including, but not limited to: (a) cultivating, growing, harvesting and exporting medical cannabis; (b) the operations of NIRCAN Zimbabwe Ltd. a Zimbabwean subsidiary of NIRCOM based on Zimbabwe license No. 7/2019 issued on 25/4/2019; (c) to establish the growing operations located, at the licensed area , Zimbabwe; and (d) the associated procurement of equipment and services. The Total Financing Proceeds are not to be used for any other project or for the payment of dividends.
