Adam Jackson
Proceeds will go toward reducing company debt and other business needs.
The Cannabist Company Holdings Inc. (NEO: CBST) (OTCQX: CCHWF) announced Thursday it finalized a private sale deal with institutional investors. The company sold 22.2 million units at C$1.52 each, totaling approximately C$33.8 million (US$25 million).
These units comprise a common share of the company and half of a share purchase warrant, allowing the holder to buy another share at C$1.96 within the next three years.
Investors have an option to purchase an additional $25 million in units at the same price within 45 days.
Proceeds from the sale will go toward reducing company debt and other business needs, it said.
ATB Capital Markets facilitated the transaction.
