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BYND Cannasoft closes US$2.6 million underwritten public offering

(Globe Newswire) Ashkelon, Israel and Vancouver — BYND Cannasoft Enterprises Inc. has announced the closing of a firm commitment underwritten public offering with gross proceeds to the company of approximately US$2.6 million, before deducting underwriting discounts and other estimated expenses payable by the company.

The base offering consisted of 1,733,334 common shares at a price to the public of US$1.50 per share. The company intends to use the net proceeds from this offering primarily for product design and manufacturing, sales and marketing campaigns, patent prosecution and working capital.

Aegis Capital Corp. acted as the sole book-running manager for the offering.

The offering was made pursuant to an effective shelf registration statement on Form F-3 (No. 333-272374) previously filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on June 14, 2023.

A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering was filed with the SEC and is available on the SEC’s website located at www.sec.gov. Electronic copies of the prospectus may be obtained by contacting Aegis Capital Corp.

There was no offering of common shares by the underwriter in Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.