CannTrust announces upsize to bought deal
Nov. 2, 2017, Vaughan, Ont. - CannTrust Holdings has announced that it has amended its agreement with Echelon Wealth Partners Inc. and Bloom Burton Securities Inc. as lead underwriters on behalf of a syndicate of underwriters including Canaccord Genuity Corp., Eight Capital Corp. and Haywood Securities Inc. and have agreed to increase the size of its previously announced $15,000,000 "bought deal" private placement offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a "bought deal basis", 3,500,000 common shares from the treasury of the Company, at a price of $5.00 per Share for aggregate gross proceeds of $17,500,000.
November 2, 2017 By CannTrust
The Company has granted the Underwriters an option, exercisable in whole or in part, to purchase up to an additional 500,000 Shares from the treasury of the Company at the Offering Price exercisable at any time on or up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering shall be $20,000,000.
Closing of the Offering is expected to occur on or about November 30, 2017 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals.
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