Heritage Cannabis Announces Overnight Offering, Pricing Not Yet Set

Heritage Cannabis (CSE: CANN) is halted this morning following the announcement last night that it intends to conduct an overnight marketed public offering of units. Details released yesterday were slim, with the company not providing a size for the financing as of yet.

What is known about the company is that the offering is to see units of the company sold consisting of one common share and one common share purchase warrant. Each warrant is to be valid for a period of two years from the date of issuance, however pricing was not yet provided. Upon closing, the company intends to apply to list the warrants on the CSE.

The offering is to be conducted on a best efforts base by a syndicate of agents, co-led by Cormark Securities and Cantor Fitzgerald. A 15% over-allotment option is expected to be issued in connection with the financing.

Net proceeds of the financing are to be used to purchase biomass, packaging materials and equipment, for product development, as well as the standard working capital and general corporate purposes.

The financing is currently anticipated to close by February 17, 2021.

Heritage Cannabis last traded at $0.165 on the CSE.


Information for this analysis was found via Sedar and Heritage Cannabis. 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.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Heritage Cannabis Sees Sharples Step Down As CEO, Appointed Chair

Heritage Cannabis (CSE: CANN) has seen a management shakeup occur this morning. The company has...

Wednesday, August 4, 2021, 09:22:38 AM

Cronos Group Subject Of SEC Inquiry

This evening, MarketWatch reporter Max Cherney broke the story that Cronos Group (TSX: CRON) (NASDAQ:...

Thursday, March 19, 2020, 09:59:02 PM

Heritage Cannabis Secures $1.5 Million From Merida Capital For Missouri Entrance

Heritage Cannabis (CSE: CANN) has secured further financing. The company last night announced that it...

Friday, October 22, 2021, 08:47:14 AM

Heritage Cannabis: A Thirty Second Review

The last time we took a look at Heritage Cannabis Holdings Corp (CSE: CANN), was...

Thursday, February 8, 2018, 07:00:55 AM

Heritage Cannabis Director Resigns Just Ahead Of Year End

When we last checked in with our favorite Canadian extraction play Heritage Cannabis (CSE:CANN) in...

Tuesday, February 11, 2020, 08:45:11 AM