Aleafia Health (TSX:ALEF,OTCQX:ALEAF) announced the closing of a C$40.25 million public offering of convertible debenture units.
As quoted in the press release:
The Offering was led by Mackie Research Capital Corporation and BMO Capital Markets, and included Canaccord Genuity Corp. (together, the “Agents”).
“We are excited to close this financing and strengthen our balance sheet as we solidify and accelerate the expansion of our cannabis health and wellness ecosystem, in Canada, and globally,” said Aleafia Health CEO, Geoffrey Benic. “This is a key step enabling management to execute on its business plan and to drive operational results creating value for shareholders.”
In connection with the Offering, Aleafia Health is pleased to announce the full exercise of the over-allotment option for additional gross proceeds of C$5.2 million. An additional 5,250 Convertible Debenture Units (the “Additional Convertible Debentures Units”) were issued today by the Company representing additional gross aggregate proceeds of C$5.2 million and the total gross proceeds to the Company from Convertible Debenture Units sold in the Offering, including the 35,000 Debenture Units sold initially and the 5,250 Additional Convertible Debenture Units sold pursuant to the over-allotment option, is C$40.2 million.
The net proceeds received by the Company from the Offering will be used for working capital requirements and other general corporate purposes.
Company is strategically building a diverse edibles portfolio with taste-forward and effects-driven products to cater to market and consumer needs
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced the launch of Wonder Wellness (“Wonder”) Gummies and availability in Illinois. The new low-dose edibles are enhanced with botanicals to complement the overall cannabis experience, and their simple packaging communicates desired effects so wellness-minded category newcomers can consume with confidence to add cannabis as a part of their daily lifestyles.
INDVR Brands Inc. Signs Letter of Intent with BevCanna to Introduce Honu’s THC Infused Products to Canadian Consumers
INDVR Brands Inc. (CSE: IDVR) (the “Company” or “INDVR Brands” or “INDVR”), a premier cannabis brand, consolidator and edibles retailer, proudly announces it has signed a Letter of Intent (“LOI”) with BevCanna Enterprises Inc. (“BevCanna”) to produce and distribute certain HONU THC infused and award-winning edible products to retail locations across Canada. The new partnership marks INDVR’s first introduction to the Canadian cannabis market and its first international expansion.
“With the THC infused product segment making up a growing percentage of the cannabis consumed in Canada, now is the ideal time to introduce our HONU brand into an edibles market estimated at approximately $1.6 billion annually,” said Joshua Mann, INDVR’s CEO. “Our dedication to product quality and consistency is our defining factor in producing some of the most trusted products in Washington and Oregon states, and we are excited to start building the same brand-loyal following across Canada.”
Reports Eighth Consecutive Quarter of Positive Adjusted EBITDA and Positive Adjusted EBITDA from Cannabis Business
Aphria Inc. (” Aphria ,” ” we ,” or the ” Company “) (TSX: APHA) (NASDAQ: APHA), a leading global cannabis-lifestyle consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today reported its financial results for the third quarter and nine months ended February 28, 2021 . All amounts are expressed in Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts.
Thoughtful Brands, Inc. (CSE:TBI)(FWB:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands“), an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe, announces that it intends to consolidate its issued and outstanding common shares (“Shares”) at a ratio of ten (10) pre-consolidated Shares to one (1) post-consolidation Share (the “Consolidation
The Company currently has 389,274,701 Shares issued and outstanding. Following the Consolidation there will be approximately 38,927,470 Shares issued and outstanding. No fractional Shares will be issued and any fractions of a Share will be rounded down to the nearest whole number of Shares. The exercise or conversion price and the number of Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon Consolidation.
In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.