Newstrike Shares Details of New Financing Deal

Cannabis Investing News

Newstrike Resources announced a new bought deal financing for 39,000,000 units of the company at a price of per unit of $1.32 for gross proceeds of $51,480,000.

Newstrike Resources (TSXV:HIP) announced a new bought deal financing for 39,000,000 units of the company at a price of per unit of $1.32 for gross proceeds of $51,480,000.
As quoted in the press release:

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the 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 $7,722,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $59,202,000.
Each Unit will be comprised of one common share of the Company (a “Common Share”) and one common share purchase warrant (a “Warrant”). Each full Warrant shall entitle the holder thereof to purchase one additional Common Share at an exercise price of $1.75, for a period of 24 months following the closing of the Offering.
The Company intends to use the proceeds of the Offering to fund strategic growth opportunities and for general and corporate purposes.

Click here to read the full press release.

Source: www.marketwired.com

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