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Heritage Cannabis Holdings Corp. Announces $10 Million Bought Deal Public Offering
Heritage Cannabis Holdings Corp. Announces $10 Million Bought Deal Public Offering.
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[{"type":"text","content":"\n\n\n\nHeritage Cannabis Holdings Corp. Announces $10 Million Bought Deal Public Offering\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\nHeritage Cannabis Holdings Corp. Announces $10 Million Bought Deal Public Offering\nCanada NewsWire\nVANCOUVER, April 10, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n VANCOUVER, April 10, 2019 /CNW/ - HERITAGE CANNABIS HOLDINGS CORP. (CSE:CANN) (the \"Company\" or \"Heritage\") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by Cormark Securities Inc. (the \"Underwriters\") pursuant to which the Underwriters have agreed to purchase 18,900,000 units of the Company (the \"Units\") from the treasury of the Company, at a price of $0.53 per Unit and offer them to the public by way of short form prospectus for total gross proceeds of approximately $10,017,000 (the \"Offering\").\nEach Unit will consist of one (1) Common Share of the Company (each a \"Common Share\") and one-half of one (0.5) Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share at a price equal to $0.70 for a period of 30 months. Further, in the event that the volume-weighted average trading price of the Common Shares exceeds $1.05 for 20 consecutive trading days (the \"Acceleration Trigger\") following the Closing Date, the Company will be entitled to accelerate the exercise of the Warrants to a period ending not less than 21 days from the date written notice of such Acceleration Trigger is provided to the Warrant holders.\nIn addition, the Company has granted the Underwriters an option (the \"Over-Allotment Option\") to purchase up to an additional 15% of the Units of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.\nThe net proceeds of the Offering shall ...