Date closed: 3/12/2021
Value: $17.25 million
On March 12, 2021, WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (WeedMD or the Company) announced that it has closed its previously announced bought deal short-form prospectus offering of 35,937,500 units (Units) at a price of $0.48 per Unit for aggregate gross proceeds of $17,250,000, including full exercise of the over-allotment (the Offering). The syndicate of underwriters was led by Eight Capital and Canaccord Genuity Corp. as the co-lead underwriters, along with INFOR Financial Inc. The Units were offered and sold by way of a short-form prospectus filed with the securities commissions in each of the provinces of Canada, other than Quebec and Newfoundland.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets.
BLG represented Eight Capital and Canaccord Genuity Corp. with a team led by Andrew Powers that included Cameron MacDonald, Krstina Skocic and Galen Flaherty.