Numinus Wellness Increases Financing To $15.0 Million

Numinus Wellness (TSXV: NUMI) has increased the size of the bought deal financing that it announced this morning, raising the total gross proceeds intended to be raised from $10.0 million to $15.0 million. The psychedelics firm as a result expects to now sell a total of 22.1 million units of the company.

As we addressed this morning, units will be sold at a price of $0.68 each, containing one common share and one half of a common share purchase warrant. Purchase warrants are valid for a period of 24 months from the date of issuance, and are exercisable at $0.90 per share.

An over allotment option has been granted on the upsize of the offering, enabling the underwriters to increase the offering by up to $2.3 million in gross proceeds. If exercised in full, an additional 3.3 million units of the company will be sold. The over allotment option is good for a period of 30 days following the closing date.

The offering is expected to close December 29, with the use of proceedings including a laundry list of items focused on expanding the firms research as well upgrading and expanding its facilities along with general working capital purposes.

Numinus Wellness last traded at $0.77 on the TSX Venture.

Information for this briefing was found via Sedar and Numinus Wellness. 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.

Leave a Reply