FV Pharma Inc. has completed an additional round of subscription receipts and common equity private placement 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″]24.759 million through the issuance of 243,561,510 subscription receipts and 31,536,454 Class B Subordinate Voting shares both priced at $0.09. The financing closed March 28, 2018 with 554 Canadian and international investors participating.
Each subscription receipt will automatically convert without payment of any additional consideration by the holder thereof into one Class B Subordinate Voting share following satisfaction of the escrow release conditions. The company has previously issued Class “B” Common Non-Voting Shares which have likely been converted into Class B Subordinate Voting shares.
FV Pharma is led by Thomas Fairfull, CEO and sole director.
FV Pharma previously raised $11.484 million in Class B shares priced at $0.09 per share (March 9, 2018) and $11.911 million in Class B shares priced at $0.05 per share (November 1 & 21, 2017). International investors from United Kingdom, Germany, Hong Kong, Israel, Liechtenstein, Qatar, Saudi Arabia, USA, Spain, Switzerland, United Arab Emirates, Belize, Malta, Mexico, Panama, and South Africa participated in the financings.[/mepr-active]
First Republic Capital Corporation and Ensign Capital Inc. 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