Emblem to Raise $10mm

clients-emblem-kindcannEmblem Corp. (TSXV: EMC) (OTC: EMMBF) announced that PI Financial will lead a group of underwriters in a bought deal. The company will be selling 2,754,821 Special Warrants for $3.63, raising $10mm. Each warrant allows holders to buy Units consisting  a share of common stock and a warrant to buy a share at $4.75. The deal is expected to close on January 26th.

Emblem began trading in December following a $2mm Qualifying Transaction at $1.15 per Unit, with each unit consisting of a common share and a warrant to buy 1/2 share at $1.75 in a deal that was underwritten by PI Financial. This capital raise represents its first as a public company and the first for the Canadian cannabis sector in 2017 after publicly-traded LPs raised $423.6mm in 2016. Trading was halted in advance of the news release just prior to the close, with the last trade at $4.30.

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Published by NCV Newswire
NCV Newswire
The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.

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