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Cronos Group Inc. Announces Upsize of Previously Announced Bought Deal Financing to $40 million
Cronos Group Inc. Announces Upsize of Previously Announced Bought Deal Financing to $40 mi...
About this update from Cronos Group Inc
[{"type":"text","content":"\n\n\n\nCronos Group Inc. Announces Upsize of Previously Announced Bought Deal Financing to $40 million\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\nCanada NewsWire\nTORONTO, Jan. 2, 2018\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, Jan. 2, 2018 /CNW/ - Cronos Group Inc. (TSX VENTURE: MJN) (\"Cronos\" or the \"Company\") is pleased to announce that the Company has entered into a revised agreement with a syndicate of underwriters led by PI Financial Corp. (collectively, the \"Underwriters\"), to increase the size of its previously announced bought deal financing to approximately $40 million aggregate gross proceeds (the \"Offering\"), representing 4,571,429 shares of the Company (the \"Shares\"), at a price of $8.75 per Share (the \"Offering Price\").\n\n\n \n \n\n \nThe Company has granted the Underwriters an option to purchase up to 685,714 additional Shares on the same terms as the Offering (the \"Over-Allotment Option). 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 for research and development.\n\nThe closing date of the Offering is scheduled to be on or about January 26, 2018 and is subject to certain conditions inc...