Brokered offering finances the expansion of medical marijuana facility
By Devika Patel
Knoxville, Tenn., Dec. 5 – OrganiGram Holdings Inc. said it plans a private placement of units to raise between C$4 million and C$6 million, with a 15% greenshoe.
The company will sell units of one common share and one warrant at C$0.85 per unit. Each warrant will be exercisable at C$1.00 for three years. The strike price is a 5.26% premium to the Dec. 4 closing share price of C$0.95.
Jacob Securities Inc. will conduct the sale on a best-efforts basis.
Settlement is expected Dec. 12.
Proceeds will be used to expand the company’s medical marijuana facility.
Formerly Inform Exploration Corp., OrganiGram is a Vancouver, B.C., medical marijuana producer.
| Issuer: | OrganiGram Holdings Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4 million (minimum), C$6 million (maximum)
|
| Greenshoe: | 15%
|
| Price: | C$0.85
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$1.00
|
| Agent: | Jacob Securities Inc.
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 12
|
| Stock symbol: | TSX Venture: OGI
|
| Stock price: | C$0.95 at close Dec. 4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
