- Supreme Cannabis announces bought deal offering of 72,600,000 units at C$0.31 per unit for gross proceeds of C$22.5 million
- Each unit will include one common share and one half of one common share purchase warrant
- The over-allotment option consists of an additional 15% of the common shares
- The offering is expected to close on or about February 19
- The Supreme Cannabis Company (FIRE) is a diversified portfolio of distinct cannabis companies, products and brands
- Supreme Cannabis opened trading at C$0.35 per share
Supreme Cannabis announces bought deal offering of 72,600,000 units at C$0.31 per unit.
BMO Capital Markets, on behalf of a syndicate of underwriters have agreed to buy on bought deal basis 72,600,000 units at a price of $0.31 per unit for gross proceeds of approximately $22.5 million.
Each unit will include one common share and one-half of one common share purchase warrant.
The underwriters have been granted a 30-day option to purchase up to an additional 15% of the units on the same terms and conditions. The over-allotment option may be exercised to purchase common shares, warrants or units as determined by the underwriters.
The offering is expected to close on or about February 19, 2021, and is subject to the company receiving all necessary regulatory approvals.
Net proceeds will be used to fund growth initiatives, as a reserve for strategic opportunities, for working capital and general corporate purposes.
The Supreme Cannabis Company (FIRE) is a global diversified portfolio of distinct cannabis companies, products and brands.
Supreme Cannabis opened trading at C$0.35 per share.