- The company has issued 6,845,368 units at $0.45 per unit for gross proceeds of C$3,080,415.60
- Proceeds from the offering will be used to accelerate the company’s cannabis development program and pay for system upgrades at the company’s production facilities
- The company intends to close the balance of the placement by September 15, 2021
- BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology
- BioHarvest Sciences Inc. (BHSC) is down 2.50 per cent, trading at C$0.39 per share at 3:20 pm ET
Bioharvest Sciences (BHSC) has issued 6,845,368 units at $0.45 per unit for gross proceeds of C$3,080,415.60.
Each unit includes one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional share at a price of $0.55 for a period of one year from the date of issuance.
The net proceeds raised will be used to:
- Accelerate the company’s cannabis development program.
- Provide for system upgrades in connection with the conversion of the existing 2 Tons/year VINIA® production facility into a Cannabis production facility to be operational in H1/2022.
- Enable the hiring of a number of key roles.
- Provide funds for general corporate purposes.
Ilan Sobel, CEO commented on the placement.
“I am very pleased with how the financing has progressed. The company’s strategy and growth plans have been well received by investors who have demonstrated their confidence in the company’s leadership and capabilities by becoming shareholders.”
The company intends to close the balance of the placement by September 15, 2021.
Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology.
BioHarvest Sciences Inc. (BHSC) is down 2.50 per cent, trading at C$0.39 per share at 3:20 pm ET.
