Emerald Health Therapeutics closes $24.4M bought deal

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By CPE News

Victoria, BC (pcJ News Briefs) – Emerald Health Therapeutics Inc. (TSX-V: EMH) has completed previously announced bought deal of 13,170,000 units at $1.85 per unit for gross proceeds of $24,364,500.

Eight Capital acted as underwriter for the offering. McCullough O’Connor Irwin LLP and Borden Ladner Gervais LLP acted as legal counsels to Emerald and the underwriter respectively.

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.

Emerald Health Therapeutics intends to use the net proceeds to accelerate facility expansion, to carry out research and development 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