Emblem (TSXV:EMC) has announced that it has entered into a letter of engagement with Eight Capital whereby Eight Capital will purchase 12,195,123 units and 25,000 convertible unsecured debentures of the company on a bough deal basis for gross proceeds of $25 million and a price per convertible debenture of $1,000 for gross proceeds of $25 million to total $50 million.
As quoted in the press release:

Prior to closing the Offering, Eight Capital and the Company may agree to form a syndicate of underwriters.
The Company has agreed to grant Eight Capital an over-allotment option to purchase up to an additional 15% of the Units at the Unit Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $3,750,001 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $53,750,003.
Each Unit will be comprised of one common share of the Company (a “Common Share“) and one common share purchase warrant (a “Warrant“). Each Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price of $2.70, for a period of 24 months following the closing of the Offering.
The Convertible Debentures shall bear interest at a rate of 8.0% per annum from the date of issue, payable semi-annually in arrears on June 30 and December 31 of each year. The Convertible Debentures will have a maturity date of 36 months from the closing date of the Offering (the “Maturity Date“).
The Convertible Debentures will be convertible at the option of the holder into common shares of the Company (the “Conversion Shares“) at any time prior to the close of business on the Maturity Date at a conversion price of $2.30 per share (the “Conversion Price“). Beginning on the date following the closing date, the Company may force the conversion of all of the principal amount of the then outstanding Convertible Debentures at the Conversion Price on 30 days prior written notice should the daily volume weighted average trading price of the Conversion Shares be greater than $3.45, for any 10 consecutive trading days.
Upon a change of control of the Company, holders of the Convertible Debentures will have the right to require the Company to repurchase their Convertible Debentures, in whole or in part, on the date that is 30 days following the change of control, at a price equal to 100% of the principal amount of the Convertible Debentures then outstanding plus accrued and unpaid interest thereon (the “Offer Price“). If 90% or more of the principal amount of the Convertible Debentures outstanding on the date of the notice of the change of control have been tendered for redemption, the Company will have the right to redeem all of the remaining Convertible Debentures at the Offer Price.
As consideration for its services, Eight Capital and a syndicate of underwriters to be formed in connection with the Offering will receive a cash commission equal to 6.0% of the gross proceeds of the Offering, other than in respect of Offered Securities sold to the Company’s president’s list for which the a cash commission equal to 3.0% will be paid. The Company will also issue non-transferrable compensation warrants to the underwriters in an amount equal to 3.0% of the gross proceeds of the Offering divided by the Unit Issue Price. Each compensation warrant will be exercisable into one Unit at the Unit Issue Price for a period of 24 months following the closing of the Offering.


Click here to read the full press release.

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

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The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

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The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

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  • On November 19 , the Mexican Senate passed comprehensive adult-use cannabis legalization, moving Mexico towards becoming one of the few countries to legalize cannabis nationally
  • On March 31, 2020 , the Company entered into an agreement with Tecnologico de Monterrey , the leading university in Mexico , to educate physicians across Latin America , in advance of the impending regulations in Mexico
  • To date, close to 550 LatAm physicians have obtained their diploma accrediting completion of Khiron’s medical education program
  • The Company plans to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico , building on the success of its vertical integration strategy in Colombia
  • Expanding the Zerenia clinic strategy will build on the Company’s Colombia knowledge and proven distribution capabilities, with rapid telehealth service adoption and over 5,600 medical cannabis scripts filled to date
  • Mexico represents one of the largest potential markets for medical cannabis in the world and is anticipated to reach $1.2bn USD by 2028 (Prohibition Partners).
  • Company to release Q3 2020 financials and host webcast on Tuesday, December 1st

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe welcomes the passing of adult-use cannabis legislation by the Mexican Senate, which moves the country closer to a legalized cannabis market, and towards provision for medical cannabis products.  Khiron has had a presence in Mexico since 2018 and has been working with doctors and medical institutions to develop a deep understanding of the market.

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