07:45:23 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aleafia Health Inc
Symbol ALEF
Shares Issued 271,953,105
Close 2020-05-08 C$ 0.76
Market Cap C$ 206,684,360
Recent Sedar Documents

Aleafia Health arranges $13M bought deal offering

2020-05-11 09:17 ET - News Release

Mr. Nicholas Bergamini reports

ALEAFIA HEALTH ANNOUNCES $13 MILLION BOUGHT DEAL OFFERING OF UNITS

Aleafia Health Inc. has entered into an agreement with Eight Capital as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase 20 million units of the company, on a bought deal basis pursuant to a short form prospectus offering, subject to all required regulatory approvals, at a price per unit of 65 cents for gross proceeds of $13-million.

Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 80 cents, for a period of 36 months following the closing of the offering.

The company has agreed to grant the underwriter an overallotment option to purchase up to an additional 15 per cent of the units at the issue price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the offering. If this option is exercised in full, the company will receive an additional $1.95-million in gross proceeds for total aggregate gross proceeds of $14.95-million.

In connection with the offering, the company has agreed to pay the underwriters a cash fee of 6 per cent of the aggregate gross proceeds raised from the offering and non-transferable compensation warrants equal to 3.5 per cent of the units sold under the offering.

The company intends to use the net proceeds of the offering for working capital and general corporate purposes.

The closing date of the offering is scheduled to be on or about May 29, 2020, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

About Aleafia Health Inc.

Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and in international markets. The company operates medical clinics, education centres and production facilities for the production and sale of cannabis. Aleafia Health owns three significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history.

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