Shroom Rush? Champignon Announces $10M Bought Deal
This afternoon Champignon Brands Inc. (CSE: SHRM) announced they entered into an agreement on a bought deal for 11,765,000 units at a price of $0.85 with a half warrant at a price of $1.15 per Warrant for a period of 2 years. The Offering will be conducted by a syndicate of underwriters co-led by Canaccord Genuity Corp and Eight Capital. The two underwriters were granted an option to purchase up to an additional 5,882,500 units at the issue price for 2 years.
Earlier today the company announced a new CEO, Dr Roger McIntyre. An expert in the field of psychedelics, and is known as the first person within Canada to successfully launch a treatment center for persons with mood disorders, referred to as the Canadian Rapid Treatment Centre of Excellence (CRTCE), which utilizes ketamine and psychedelic based treatments.
Champignon Brands last traded at 99c and was halted mid day.
FULL DISCLOSURE: Champignon Brands is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Champignon Brands on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.
