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.
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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.
