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Heritage Cannabis Holdings Corp. Announces Increase to Bought Deal Financing
Heritage Cannabis Holdings Corp. Announces Increase to Bought Deal Financing.
About this update from Trees Corporation
[{"type":"text","content":"\n\n\n\nHeritage Cannabis Holdings Corp. Announces Increase to Bought Deal Financing\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\nHeritage Cannabis Holdings Corp. Announces Increase to Bought Deal Financing\nCanada NewsWire\nVANCOUVER, April 11, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, April 11, 2019 /CNW/ - Heritage Cannabis Holdings Corp. (CSE:CANN) (the \"Company\" or \"Heritage\") is pleased to announce that further to its press release on April 10, 2019, the Company has agreed with a syndicate of investment dealers led by Cormark Securities Inc. and including PI Financial Corp., Canaccord Genuity Corp. and Desjardins Securities Inc. (collectively the \"Underwriters\") to increase the size of its previously announced $10,017,000 \"bought deal\" offering.  Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a \"bought deal basis\" 28,400,000 units (\"Units\") from the treasury of the Company, at a price of $0.53 per Unit (the \"Offering Price\") for aggregate gross proceeds of $15,052,000 (the \"Offering\").\nIn addition, the Company has granted the Underwriters an option (\"Over-Allotment Option\"), exercisable in whole or in part, to purchase up to an additional 4,260,000 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 overallotments, if any. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering shall be $17,309,800.\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...