Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTC:EMHTF) has announced this morning that it entered into a binding term sheet with a single Canadian institutional accredited investor under which the investor has agreed, subject to certain customary conditions, to purchase 3,000,000 units of the company at a price of $6.00 CAD per Unit for total gross proceeds of $18,000,000. It is important to note that shares of Emerald closed the trading day yesterday at $6.97 CAD per share.
In addition to the common share included in each unit, it also includes one common share purchase warrant. Each warrant entitles the investor to acquire one common share of the company at a price of $7.00 CAD per warrant share for a period of six months following the closing of the offering.
For further details regarding the company's capital raise, read the full press release here.