Sign up USA
Proactive Investors - Run By Investors For Investors

WeedMD closes its fund-raising with full exercise of the over-allotment option

In all, 16.05mln units were sold at a price of $2.15 each.
Canadian dollars
WeedMD raised C$34.5mln (gross) from the issue

WeedMD Inc (CVE:WMD), a producer and distributor of medical cannabis, has closed its short form prospectus offering, including the full exercise of the over-allotment option.

In all, 16.05mln units were sold at a price of $2.15 each.

READ WeedMD increases size of its equity financing​

Each unit consists of a share and a half a warrant; the two halves of a warrant together entitle the holder to purchase a WeedMD common share at C$2.90 anytime before 11 January, 2020.

WeedMD shares currently trade at C$2.35, down 22 cents on the day.

The company intends to use the net proceeds of the offering to expand its lease footprint and retrofitting plans and operations at its 14-acre Strathroy Greenhouse; to purchase and further develop its Aylmer Facility; to pursue potential strategic domestic and international opportunities; and for working capital and general corporate purposes. 

Join our Crypto, Blockchain and Cannabis Telegram group here
View full WMD profile View Profile

WeedMD Inc. Timeline

Related Articles

1539364967_Cannabis-plant.jpg
October 10 2018
Management behind ICC International Cannabis Corp has a clear buy, build and sell strategy
cannabis
August 28 2018
Tidal Royalty provides capital to help grow licenced US cannabis firms in exchange for receiving a percentage of future top-line revenues.
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use