Aleafia Health, a vertically integrated and federally licensed Canadian cannabis company, announced that it has closed its previously announced bought deal offering for a total issuance of 27,390,000 units of the company at a price per Unit of $0.83 for gross proceeds of $22.7 million.
The offering was led by Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Echelon Wealth Partners Inc. and Mackie Research Capital Corp.
Each unit consists of one common share in the capital of the company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”).
Each warrant entitles the holder thereof to purchase one Common Share at an exercise price of $1.05, for a period of 24 months following the closing of the Offering.
The Company intends to use the net proceeds of the Offering for growth opportunities and working capital initiatives.
It is expected that the Warrants issued in connection with the Offering will commence trading on the Toronto Stock Exchange (the “TSX”) on the date hereof under the symbol “AH.WT.B”.
The Offering is subject to final acceptance of the TSX.
Aleafia HealthAleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and in international markets.
The Company operates medical clinics, education centres, and production facilities for the production and sale of cannabis.
Aleafia Health owns four significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history.
The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules, edibles, sublingual strips, and vapes.
Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners, and educators and operates internationally in three continents. – BusinessNewsCanada.com