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Cannabis Giant Canopy Announces $30M Private Placement, Here's Where The Money Will Go

Benzinga ·  Jan 10 01:01

Canopy Growth Corporation(TSX:WEED) (NASDAQ:CGC) announced on Tuesday that it has entered into subscription agreements with certain institutional investors in aprivate placement offering of 6,993,007 units at $4.29 per unitfor aggregate gross proceeds of approximately $30 million.

Details

Each unit will be comprised of one company's common share and one series A common share purchase warrant or one series B common share purchase warrant, with each warrant allowing the holder to acquire one common share from the company at $4.83.

The series A warrants will be exercisable immediately following the offering's closing for five years. The series...

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