- Avicanna (AVCN) has closed a non-brokered private placement for gross proceeds of approximately $3.9 million
- The company issued 4,587,022 units at a price of $0.85 per unit
- Proceeds will be used for general working capital, administrative expenses, research and clinical development
- Avicanna paid finder’s fees of approximately $65,000 to eligible finders
- Avicanna is repricing1,589,098 common share purchase warrants expiring September 20, 2024. from $1.13 to $1.10
- Avicanna is a diversified Canadian biopharmaceutical company focused on the development and commercialization of plant-derived cannabinoid-based products
- Avicanna Inc. (AVCN) opened trading at C$0.79 per share
Avicanna (AVCN) has closed a non-brokered private placement for gross proceeds of approximately $3.9 million.
The company issued 4,587,022 units at a price of $0.85 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at a price of $1.10 for a period of three years.
Proceeds will be used for general working capital, administrative expenses, expenditures related to production and manufacturing, and research and clinical development.
Avicanna paid finder’s fees of approximately $65,000 to eligible finders.
All securities issued are subject to a hold period expiring four months and one day.
In addition, Avicanna announced the repricing of 1,589,098 common share purchase warrants, expiring September 20, 2024. The purchase warrants were issued to the lender in the principal amount of $2,118,000 in August 2021. The exercise price of the term loan warrants will be repriced from $1.13 to $1.10.
Avicanna is a diversified Canadian biopharmaceutical company focused on the development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
Avicanna Inc. (AVCN) opened trading at C$0.79 per share.