Scythian Biosciences Announces Increase to Bought Deal Financing

Scythian Biosciences (TSXV:SCYB) announced that, due to strong demand, it has agreed with Clarus Securities, on behalf of a syndicate of underwriters, to increase the size of its previously announced C$10,001,220 “bought deal” offering.

As quoted from the press release:

In addition, the Company intends to increase the size of its previously announced C$10,001,220 concurrent brokered private placement of C$10,001,220 to Aphria. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought deal” basis, 672,125 units for additional gross proceeds of C$12,501,525. The Company will also grant the Underwriters an option to purchase an additional 100,818 Units, exercisable in whole or in part, at any time prior to 48 hours before the Closing Date. In the event this option is exercised in full, the aggregate gross proceeds of the concurrent private placement will be approximately C$14,376,739.

Click here to read the full press release.

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