Cannabis Wheaton closes bought deal financing
On May 31, 2018, Cannabis Wheaton Income Corp. ("Cannabis Wheaton") closed its previously announced bought deal public offering of 82,225,000 units, which includes the full exercise of the over-allotment option granted to the underwriters, at a price of C$1.40 per unit for gross proceeds of C$115,115,000. The syndicate of underwriters was led by BMO Capital Markets, together with AltaCorp Capital Inc., Mackie Research Capital Corporation and INFOR Financial Inc.
Each unit consists of one common share of Cannabis Wheaton and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share of Cannabis Wheaton at an exercise price of C$1.85 for a period of 24 months following the closing of the offering.
Cannabis Wheaton plans to use the net proceeds from the offering for capital expenditures relating to domestic and international operations and capacity expansion, for potential new investment opportunities and for general working capital purposes.
Cannabis Wheaton is a collective of entrepreneurs with a passion for the cannabis industry past, present and future.
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