Resolve Digital Health closes 1st round of financing – updated

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By Ted Liu

Resolve Digital Health Inc., a Vaughan, Ontario based developer of smart inhaler tracking medical cannabis, has closed a $5 million first round of financing led by Aphria Inc (TSX: APH; OTCQB: APHQF) with participation from CannaRoyalty Corp. (CSE: CRZ) and Canadian and foreign investors from [mepr-active rule=”374″ ifallowed=”hide”]##Subscribers, please login to read deal details. Not yet a subscriber? Subscribe today to see our research on this deal and all other subscriber ONLY deals##[/mepr-active][mepr-active rule=”374″]Germany, Malaysia, Belgium, and Thailand. Private investors invested $3.92 million in the unit financing, not a Series A so-called, which was priced at $0.50 per unit with one warrant exercisable at $0.65.[/mepr-active].

Canaccord Genuity Corp. acted as placement agent. Fasken Martineau DuMoulin LLP acted as legal counsel.

Resolve Digital Health’s board is comprised of CEO Mukesh Kshatriya, Robert Adelson, President of K2 Developments, and Mark Lustig, CEO of CannaRoyalty Corp. (CSE: CRZ).

In Q4 2015, CannaRoyalty acquired a 35% ownership position, thereby providing substantial seed capital and resources to support the research and development of Breeze inhaler. CannaRoyalty invested $80,000 as part of the first round of financing, CannaRoyalty will maintain 27.2% of the existing Resolve shares on a non-diluted basis.

photo credit: Resolve Digital Health