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Sativa Wellness completes first tranche of private placement

The company said it has raised around C$3.6mln, which will be used for working capital and investment across the whole of its wellness business

Sativa Wellness Group Inc - Sativa Wellness completes first tranche of private placement

Sativa Wellness Group Inc (LON:SWEL) said it has closed the first tranche of its non-brokered private placement of units in the company raising gross proceeds of C$3.6mln (£2.1mln).

The company said it raised the funds through the issue of around 45.9mln units at a price of C$0.079 each. Each unit consists of one share in Sativa and half of a one share purchase warrant, two of which entitles the holder to purchase one share at a price of C$0.10 until March 31, 2023.

READ: Sativa Wellness to offer COVID-19 quarantine tests for travellers returning to UK

Sativa also said it has issued and paid around 2.5mln finder’s units and 2.5mln finder’s warrants to Canaccord Genuity.

It added that the proceeds of the offering will be used for working capital and investment across the whole of its wellness business.

Quick facts: Sativa Wellness Group Inc

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Price: 3.9 GBX

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