GreenSpace Brands completes $8.5M bought deal

Ted Liu

GreenSpace Brands Inc. has closed its previously announced bought deal offering of 7,085,417 subscription receipts at $1.20 per subscription receipt for gross proceeds of $8,502,500.40.

The offering was conducted by a syndicate of underwriters led by Beacon Securities Limited and including Cormark Securities Inc., Canaccord Genuity Corp. and AltaCorp Capital Inc. Aird & Berlis LLP and Fasken Martineau DuMoulin LLP acted as legal counsel to GreenSpace and the underwriters respectively.

GreenSpace Brands intends to use net proceeds to finance the previously announced acquisition of all of the outstanding shares of Nothing But Nature Inc. and for working capital and general corporate purposes. The acquisition is scheduled to close on or about January 17, 2017.

photo credit: GreenSpace Brands