The deal was signed with lead underwriter and sole bookrunner Mackie Research Capital Corporation on behalf of a syndicate of underwriters, including Haywood Securities Inc., and Eight Capital Corporation.
In the bought short form prospectus offering, Harvest One will be raising $35,000,000 of units, at a price of $1.82 per unit. Under the offering, each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share (a.k.a warrant share) at an exercise price of $2.30 per warrant share at any time up to 24 months following the closing of the offering.
The company has also granted the underwriters an over-allotment option, exercisable in whole or in part, at any time up to 30 days after the closing of the offering to purchase up to an additional 15% of the number of units issued pursuant to the same deal structure. If the over-allotment option were to be exercised in its entirety, the aggregate gross proceeds of this offering will be $40,250,000.
Harvest One Cannabis Inc. has operations across the entire cannabis value-chain through three business units, with Harvest One serving as the umbrella company over horticultural arm United Greeneries and medical arm Satipharm AG.