48North To Conduct Financing At $0.21 Per Unit

48North Cannabis Corp (TSXV: NRTH) last night announced that it will be conducting an overnight marketed public offering of units. The total figure to be raised is as of yet unidentified by the company, with details expected to be released this morning.

The offering is set to see units sold at a price of $0.21 per unit, with the offering lead by Cormark Securities and Cantor Fitzgerald. Each unit is to contain one common share and one common share purchase warrant, with each warrant valid at a price of $0.26 per share for a period of two years from the date of issuance.

Proceeds from the offering are to be used for working capital and general corporate purposes.

The financing is currently slated to close March 26, 2021.

48North Cannabis last traded at $0.26 on the TSX Venture.


Information for this briefing was found via Sedar and 48North Cannabis Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Outdoor Cannabis Cultivation Has Arrived in Canada

Outdoor grow is coming to Canada in a hurry. Health Canada, the regulating body for...

Monday, June 3, 2019, 07:00:53 AM

48North Launches First Topical Product In Ontario

It appears today is the day for a number of new product announcements for the...

Thursday, March 5, 2020, 09:42:29 AM

48North Posts $5.2 Million In Gross Revenue, Loss Of $13.4 Million

48North Cannabis (TSXV: NRTH) this morning reported its third quarter 2021 financial results for the...

Monday, May 31, 2021, 07:22:14 AM

48North CFO Departs Company Effective Immediately

48North Cannabis (TSXV: NRTH) this morning attempted a new means of announcing the immediate departure...

Monday, January 18, 2021, 08:42:52 AM

Hexo Corp To Close Down Facilities Just Months After Acquiring Them

It’s not a good day to be a Canadian cannabis investor. Following the announcement of...

Tuesday, November 9, 2021, 12:05:22 PM