- Avicanna (AVCN) has closed a non-brokered private placement offering for gross proceeds of approximately $1.24 million
- The company intends to use the proceeds for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, and research and clinical development
- Avicanna is a commercial-stage international biopharmaceutical company
- Avicanna Inc. (AVCN) opened trading at C$0.38 per share
Avicanna (AVCN) has closed a non-brokered private placement offering for gross proceeds of approximately $1.24 million.
The company issued 3,096,230 units at $0.40. Each unit comprises of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at $0.50 until March 20, 2026.
Avicanna has paid approximately $7,500 in cash finders’ fees and issued a total of 18,750 finder’s warrants in connection to the offering. Each finder warrant entitles the holder to acquire one common share at $0.41, until March 20, 2026.
The company intends to use the proceeds for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, and research and clinical development.
All securities issued are subject to a four-month statutory hold period.
About Avicanna
Avicanna is a commercial-stage international biopharmaceutical company. It focuses on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments.
Avicanna Inc. (AVCN) opened trading at C$0.38 per share.