Business
Avicanna Announces Pricing of Public Marketed Offering of Units
Avicanna Announces Pricing of Public Marketed Offering of Units Canada NewsWire...
About this update from Avicanna Inc
[{"type":"text","content":"\n \n \n \n Avicanna Announces Pricing of Public Marketed Offering of Units\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Nov. 13, 2020\n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n . ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF\n \n UNITED STATES\n \n SECURITIES LAWS/\n \n \n \n TORONTO\n \n ,\n \n Nov. 13, 2020\n \n /CNW/ - Avicanna Inc. (\"\n \n Avicanna\n \n \", or the \"\n \n Company\n \n \") (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that it has priced its previously announced marketed public offering (the \"\n \n Offering\n \n \") of units (the \"\n \n Units\n \n \") of the Company. The Company intends to issue the Units at a price of\n \n $0.85\n \n per Unit for gross proceeds of a minimum of\n \n $5,000,000\n \n and a maximum of\n \n $7,000,000\n \n . Each Unit will consist of one common share of the Company (each a \"\n \n Common Share\n \n \") and one-half of one common share purchase warrant (each full warrant, a \"\n \n Warrant\n \n \" and collectively the \"\n \n Warrants\n \n \"). Each Warrant will be exercisable for one Common Share (each a \"\n \n Warrant Share\n \n \") at a price of\n \n $1.20\n \n per share at any time for a period of 36 months following closing of the Offering.\n \n \n \n \n \n \n \n \n \n The Offering is being conducted on a \"best efforts\" basis by a syndicate of agents led by Echelon Wealth Partners Inc., as lead agent and sole-bookrunner, and including Beacon Securities Limited and Canaccord Genuity Corp. (collectively, the \"\n \n Agents\n \n \").\n \n \n The Company has granted the Agents an option, exercisable in whole or in part, at the sole discretion of the Agents, at any time for a period of 30 days from and including the closing of the Offering, to purchase from the Company up to an additional 15% of the Units sold under the Offering, on the same terms and conditions of the Offering to cover over-allot...