FV Pharma completes new private financing

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By Ted Liu

FV Pharma Inc. has completed a new round of private financing with Canadian and international investors.

FV Pharma raised $[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#[/mepr-active][mepr-active rule=”374″]11,483,858.24 through the issuance of 127,598,403 common shares at $0.90 per share. 266 investors from Ontario, BC, Alberta, Quebec, USA, UK, Israel, Germany, Bahamas, Belize, Marshall Islands, Mexico and Paraguay participated in the financing.

FV Pharma is led by Thomas Fairfull, CEO and sole director.

FV Pharma previously raised $6.5 million, priced at $0.05 per share, from 93 Canadian and international investors (Belize, Hong Kong, Germany, Malta, Mexico, Panama, and South Africa).[/mepr-active]

First Republic Capital Corporation, Dominick Capital Corporation, Ensign Capital Inc., Mackie Research Capital Corporation, Haywood Securities Inc., Canaccord Genuity Corp., Hampton Securities Limited, BMO Capital Markers acted as placement agents in connection with the new financing. Bennett Jones LLP acted as legal counsel.

Ajax, Ontario based FV Pharma plans to transform Cobourg’s former Kraft plant, now Cobourg Innovation Centre, into a medical marijuana facility. FV Pharma intends to purchase the entire 15-acre property with a closing date set for December, 2017.

photo credit: FV Pharma