• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

Canopy Growth Corp. Announces Financing Agreement - What You Need to Know

Canopy Growth Corporation (OTC:TWMJF) (TSXV:CGC) announced today that they entered an agreement with underwriters to purchase 5,662,000 common shares for $10.60 CAD per share on a bought deal basis.  

 

What You Need to Know

  • This amounts to gross proceeds for Canopy of $60,017,200 CAD or approximately $45,286,949 USD at current exchange rates.

  • Canopy has granted the underwriters an over-allotment option to purchase up to an additional 849,300 common shares at the offering price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the offering. 

  • This could mean additional deal proceeds of $9,002,580 CAD or approximately $6,795,041 USD for Canopy Growth Corp.

  • Canopy intends to use the net proceeds for capital expenditures for capacity expansion, working capital, and general corporate requirements.

  • The offering deal is expected to close on December 22nd, and is still subject to exchange and regulatory approvals. 

  • The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

  • The syndicate of underwriters for the deal is co-led by GMP Securities L.P. and Dundee Capital Partners

  • Separately, Cowen and Company, LLC has been engaged as financial advisor to Canopy Growth Corp. to provide financial advisory services in the United States.

Conclusion

 

For more information and coverage of Canopy Growth Corporation, be sure to check out their marijuana stock profile in our TSX Listed Marijuana Stocks Database. For Canopy's press release regarding the financing deal, click here

 

Read more articles tagged:

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.