Thursday, September 11, 2025

Harvest Health Increases Bought Deal To C$40 Million

It seems our article in connection to US cannabis financing yesterday was quite timely. After the bell yesterday, Harvest Health and Recretion (CSE: HARV) announced a C$30 million bought deal financing. This morning, the financing was upsized significantly, with the total raise now to be C$40 million in size.

The financing will see units of the company sold at a price of $2.26 each, with units consisting of one subordinate voting share of the company and a half warrant. Each warrant is good for a period of 30 months from the date of issue, with an exercise price of $3.05 per share. Warrants have an acceleration clause as well, with the expiry date able to be accelerated if the volume weighted average price of the company exceeds $4.97 for ten consecutive days.

A total of 17,699,200 units are expected to be sold of the company, however a 15% over-allotment option has been issued as well. If exercised in full, the over-allotment would bring the total financing to $46.0 million.

Proceeds from the financing are to be used for working capital and general corporate purposes. The financing is expected to close by October 28, 2020.

Harvest Health last traded at $2.52 on the CSE.


Information for this briefing was found via Sedar, and Harvest Health and Recreation. 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.

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