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Roadman Investments to upsize private placement

Roadman Investments Corp. plans to upsize a previously announced nonbrokered private placement to up to 18,181,819 units due to high demand.

The units are being offered at 5.5 Canadian cents apiece for gross proceeds of up to C$1 million.

Each unit will consist of 1 common share in the capital of the company and 0.5 of a common share purchase warrant. Each full warrant will be exercisable for 1 additional share at 10 cents for a period of two years from the issuance date.

The company issued 7,202,728 units in the first tranche of the offering, which resulted in gross proceeds of C$396,150.04. The second tranche is scheduled to close on or about Sept. 20.

Roadman Investments intends to use proceeds from the offering for general corporate and working capital purposes.

Additionally, the company announced that its investee Champignon Brands Inc. completed its series A financing and intends to pursue an IPO on the Canadian Securities Exchange in the fourth quarter.

Roadman Investments also disclosed that it entered into nondisclosure agreements with various private companies focused on health and wellness and alternative medicine, which may result in advisory agreements or the strategic deployment of capital.