Exciting news! Emblem announces a bought deal financing of $10,000,000
January 09 2017 - 7:30AM
InvestorsHub NewsWire
Toronto, ON --
January 9, 2017 -- InvestorsHub NewsWire -- Less than three weeks
after listing on the TSX-V at $1.15 with an incredibly successful
public offering and significant demand from the investment
community, we’re more than thrilled to announce this latest
funding round.
Priced at $3.63, our “Bought Deal” financing is being led by PI
Financial, with 60% of the book, Canaccord Genuity with 20%, and
GMP Securities with 20%. Although the announced offering was $10
million, due to significant demand, it is likely this will be
increased. The offering comes with a callable half warrant priced
at $4.75 for three years.
As
you are aware, our approach from the very beginning has been
dedicated to both our existing shareholders and to retail
investors. In fact, 92% of all funds raised to date have been with
retail investors.
As the investment community becomes more aware of our story and the
benefits of investing in a company with three unique verticals
(including Emblems industry unique pharmaceutical division, led by
one of the top pharmaceutical executives in the world) the
institutional community is more interested than ever in helping us
advance our total business plan, including, in particular, our
pharmaceutical division.
To truly build a world class company, and having just received our
oils license in December, we have determined that it is in the best
interest of shareholders to take on additional capital immediately,
in order to completely build out our business with a particular
focus on our pharmaceutical vertical.
The use of proceeds will include a significant investment for the
construction of a 2,500 square-foot extraction and formulation
development laboratory on our property in Paris, Ont. Additionally,
we have hired a number of scientists to work exclusively in this
division to pursue the development and manufacture of advanced
dosage forms of cannabinoid medication.
This capital will now allow Emblem to bring to market a number of
pharmaceutical formulations with advanced dosage formats, in a
significantly shorter time period.
This offering allows us to continue to position ourselves in a
market that includes Medical Dried Flower Marijuana, Cannabis Oils,
Recreational Marijuana, and some of the largest pharmaceutical
markets in Canada, namely chronic pain, anxiety and sleep
disorders.
We are grateful for the support that our shareholders have provided
to us. We are conscious of our obligation to reward the loyalty of
our shareholders to the extent that it is in our power to do so.
Consequently, we are striving to provide our current investors with
an opportunity to participate in the current financing alongside
the institutional investment community.
We appear to be significantly over-subscribed for this offering and
there is limited availability for the Units being offered. However,
we have made provision for a Presidents list.
If you are interested in participating in this offering, please
send us an expression of interest by return email setting out the
amount that you would like to invest in the offering. We will use
our best efforts to include your prospective investment on our
Presidents list.
Please note, with our apologies, we expect to be quite
over-subscribed and we cannot confirm that expressions of interest
will be filled in full, or at all. We will do our best.
Thank you again for your continued support.
Best regards,
Danny
Danny Brody, CIM |
Director, Investor Relations |
|
Investor
Inquiries:
dannybrody@emblemcorp.com
(647) 255-8106
Patient Inquiries:
welcome@emblemcannabis.com
(519) 442-2220
Emblem Cannabis on Twitter
Emblem Cananbis on Facebook
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