Each Warrant is exercisable at a price of $0.75 per Common Share for a period ending 24 months from the closing date of the Offering, subject to accelerated expiry by the Company upon 20 days’ notice in the event the Common Shares trade at a price equal to or greater than $1.00 for a period of 20 consecutive trading days.
The CSE has approved the Common Shares for listing and has advised the Company that the Common Shares will commence trading on the CSE on or about December 19, 2017 under the ticker symbol “VIDA.”
Canaccord Genuity Corp., as lead agent, together with Mackie Research Capital Corporation and Haywood Securities Inc. (collectively, the “Agents“) acted as the Company’s agents in connection with the Offering. Phivida recognizes Liberty North Capital and Hillcrest Capital Partners for their significant contributions as corporate advisors. Pursuant to the Offering, the Agents received a cash commission equal to 7% of the gross proceeds of the Offering, other than in respect of presidents list purchasers which was 3.5%, a corporate finance fee of $75,000 and 187,500 Common Shares, and compensation options exercisable in 832,563 Common Shares at a price of $0.40 per share for a period expiring 24 months from the closing date.
CEO John-David Belfontaine states; “The credit belongs to the hard work and professionalism of the Phivida board, executive and operations team. We also recognize our syndicate and advisory partner team for their contributions in stewarding a successful initial public offering. This is a significant achievement for The Company, but just the beginning of our shared success, as we prepare to launch our premium suite of Phivida brand CBD products onto a global stage in 2018. We look forward to providing more exciting updates and milestone achievements as we enter this rapid-growth phase in the life of Phivida.”
The Company intends to use the proceeds from the Offering to begin full-scale manufacturing, marketing and distribution of Phivida Nutrition and Phivida Enhanced products. Phivida Nutrition products will consist of custom formulated hemp oil infused beverages that include a proprietary blend of nutraceuticals and infused with nanoencapsulated hemp oil extracts. Phivida Enhanced products will be marketed under the Vida+ brand name as functional foods and supplement nutraceuticals and capture a leadership share of the US CBD hemp oil market.
Phivida Holdings Inc.
Phivida (pronounced “fi-VEE-dah”) is a premier brand of cannabidiol (“CBD”)-infused functional foods, beverages and clinical products that is poised for global distribution. The World Anti-Doping Association’s recent decision to lift its ban of CBD from hemp oil and the World Health Organization’s recent statement that CBD is an effective treatment for epilepsy — and that there is some evidence that CBD could help treat Alzheimer’s disease, cancer, psychosis, Parkinson’s disease and other conditions opens the door for athletes and active families use Phivida products. Phivida’s mission is to be a global leader in the alternative health sector while advancing education and research and investing back into our communities. For more information visit www.phivida.com
This press release contains “forward-looking information” within the meaning of Canadian securities laws, which may include, but are not limited to, statements relating to the Company’s use of the proceeds of the Offering and the trading date of the Common Shares. Such forward-looking information reflects Phivida’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Prospectus. Phivida does not undertake to update forward-looking statements or forward-looking information, except as required by law. No securities regulatory authority has either approved or disapproved of the contents of this news release. The Common Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.
SOURCE Phivida Holdings Inc.
For further information: on Phivida visit www.phivida.com or join our social media network @Phivida. For investor information please email us at email@example.com. Website: www.phivida.com, Toll free: +1 (844) 744-6646 (ext. #2), Email: IR@phivida.com
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact firstname.lastname@example.org, or