CannBioRex Pharmaceuticals files for $7M IPO on CSE

CannBioRex Pharmaceuticals Corp. has filed a preliminary prospectus for an initial public offering (IPO) for gross proceeds of $7 million through the issuance of common shares to be priced.

CannBioRex Pharmaceuticals has applied to list its common shares on the Canadian Securities Exchange (CSE).

Canaccord Genuity Corp. acts as sole underwriter for the offering. McMillan LLP and Borden Ladner Gervais LLP are acting as legal counsel for CannBioRex and the underwriter.

Based in Toronto and with principal research operations in Oxford, United Kingdom and Jerusalem, Israel, CannBioRex is a pharmaceutical research company specializing in synthetic pharmaceutical grade cannabinoids.

CannBioRex aims to leverage the complementary scientific skills of teams based at the Kennedy Institute at Oxford University (Prof. Sir Marc Feldmann, Prof. Richard Williams and Prof. Chas Bountra) and Hebrew University (Prof. Raphi Mechoulam and Prof. Ruth Gallily) to develop novel medications for multiple unmet needs.

CannBioRex has raised over $4.3 million in equity financing since its inception in March 2018. Its last financing was priced at $0.10 per share.

As at October 5, 2018, CannBioRex had 154,775,003 common shares outstanding.

Professor Feldmann, Chairman & CEO, is the single largest shareholder of CannBioRex, controlling 16% of the outstanding shares.

photo credit: CannBioRex


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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