Resolve Digital Health closes 1st round of financing – updated

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 ##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##.

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

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.