Victoria, BC (pcJ News Briefs) – Emerald Health Therapeutics Inc. (TSX-V: EMH) has engaged Eight Capital for a bought deal of 9,460,000 units at $1.85 per unit for gross proceeds of $17,501,000.
Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to acquire one additional share at a price of $2.60 for a period of 24 months following the closing date, subject to accelerate expiry.
The Company has agreed to grant the Underwriter an over-allotment option to purchase up to an additional 1,419,000 Units at the Offering 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, an additional $2,625,150 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $20,126,150.
Emerald Health Therapeutics intends to use the net proceeds to accelerate facility expansion and for working capital and general corporate purposes.
Emerald Health Therapeutics Inc. operates primarily through Emerald Health Botanicals Inc., a wholly owned subsidiary and a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
photo credit: Emerald Health