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DionyMed Holdings Inc. Announces the Closing of Approximately C$35 Million of Private Placement Subscription Receipts and Conditional Listing Approval by the CSE
TORONTO, Nov. 23, 2018 /CNW/ – DionyMed Holdings Inc. (“DionyMed”), a multi-state cannabis brand and distribution platform, is pleased to announce that it has completed the previously announced private placement of subscription receipts (each, a “Subscription Receipt”) at a price of C$4.25 (the “Issue Price”) per Subscription Receipt for aggregate gross proceeds of approximately C$35,000,000 (the “Offering”).
Additionally, DionyMed Holdings Inc. and Sixonine Ventures Corp. (“Sixonine”) are pleased to announce that the Canadian Securities Exchange (the “CSE”) has provided conditional approval of the listing of the subordinate voting shares of Sixonine (the “Subordinate Voting Shares”) under the trading symbol “DYME”, which listing is anticipated to occur shortly following the completion of the previously announced business combination of Sixonine and DionyMed Holdings Inc. (the “RTO”). Upon completion of the RTO, Sixonine is to be renamed “DionyMed Brands Inc.” Sixonine following the RTO and name change is referred to as the “Company” or “DYME”.
Our recent successful capital raise of approximately C$35 million and anticipated listing on the CSE are significant milestones in our company’s exciting narrative. We have grown from inception in 2017, to become one of the leading providers of branded products, distribution and direct to consumer services in the U.S. legal cannabis market.
Edward Fields, CEO of DionyMed
Our anticipated listing on the CSE provides direct access for investors to participate in our rapidly growing legal cannabis story as we outpace our peers and expand across the United States.
The listing of the Subordinate Voting Shares is subject to, among other things, satisfaction of the customary listing conditions of the CSE and the completion of the RTO as contemplated in the agreement dated October 2, 2018 between DionyMed and Sixonine. Subject to satisfaction of these and other conditions, a subsequent announcement will be made regarding the expected date for the commencement of trading.
A listing statement describing the Company, prepared in accordance with the policies of the CSE, will be made available on SEDAR at www.sedar.com. The information regarding the Company and the RTO in this press release is qualified in its entirety by reference to the more detailed disclosure included in the listing statement.
Founded in 2017, DionyMed is a rapidly-growing, multi-state cannabis brands and distribution platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed entered the cannabis industry in the vape cartridge manufacturing category and following California’s adult-use legalization in January 2018, expanded from manufacturing into distribution. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. DionyMed serves more than 700 dispensaries and completes over 40,000 Direct-To-Consumer deliveries each month with its growing portfolio of products and brands.
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