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Cronos Group Inc. Announces $15 Million Bought Deal
Cronos Group Inc. Announces $15 Million Bought Deal Canada NewsWire TORONTO, Oct...
About this update from Cronos Group Inc
[{"type":"text","content":"\n\n\n\nCronos Group Inc. Announces $15 Million Bought Deal\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Oct. 19, 2017\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.\n\n\n\nTORONTO, Oct. 19, 2017  /CNW/ - Cronos Group Inc. (TSX VENTURE: MJN) (\"Cronos\" or the \"Company\") is pleased to announce that it has entered into a letter of engagement with PI Financial Corp. (\"PI\") as sole lead underwriter. PI has agreed to purchase for re-sale 4,761,905 common shares of the Company (the \"Shares\"), on a \"bought deal\" basis pursuant to the filing of a short form prospectus, subject to all required regulatory approvals, at a price per Share of $3.15 (the \"Offering Price\"), for total gross proceeds of $15,000,000.75 (the \"Offering\").\n\n\n \n \n\n \nThe Company will grant PI an option to increase the size of the Offering by up to 15% of the initial Offering size or 714,285 additional Shares (the \"Over-Allotment Option\") unless the Offering size is increased in which case the Overallotment Option will be 15% of the increased Offering.  The Over-Allotment Option may be exercised in whole or in part by written notice to the Company at any time up to 30 days following the Closing Date. \n\nThe Company intends to use the net proceeds of the Offering for general corporate purposes, to fund growth and to provide for possible future acquisitions.\n\nThe closing date of the Offering is scheduled t...