22:25:05 EDT Wed 17 Apr 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 78,179,698
Close 2017-04-10 C$ 2.10
Market Cap C$ 164,177,366
Recent Sedar Documents

Emerald Health increases bought deal to $24.36-million

2017-04-11 10:42 ET - News Release

Mr. Sandy Pratt reports

EMERALD HEALTH ANNOUNCES INCREASE IN BOUGHT DEAL TO $24.4 MILLION

Emerald Health Therapeutics Inc. has entered into an amended letter of engagement with Eight Capital (the underwriter), under which the underwriter has now agreed to purchase 13.17 million units of the company on a bought deal basis pursuant to the filing of a shelf prospectus supplement, subject to all required regulatory approvals, at a price per unit of $1.85 for total gross proceeds of $24,364,500.

Each unit shall consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one share at a price of $2.60 for a period of 24 months following the closing date. In the event that the closing sale price of the company's shares on the TSX Venture Exchange is greater than $3.50 per share for a period of 20 consecutive trading days at any time after the closing of the offering, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.

The company has agreed to grant the underwriter an overallotment option to purchase up to an additional 1,975,500 units at the offering 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 $3,654,675 will be raised pursuant to the offering, and the aggregate proceeds of the offering will be $28,019,175.

The company intends to use the net proceeds of the offering to accelerate facility expansion and for working capital and general corporate purposes.

The units will be offered by way of a shelf prospectus supplement to be filed in all of the provinces of Canada, except Quebec, pursuant to National Instrument 44-101 -- short form prospectus distributions.

The closing date of the offering is scheduled to be on or about April 20, 2017, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics operates primarily through Emerald Health Botanicals Inc., a wholly owned subsidiary of the company and a licensed producer under the access to cannabis for medical purposes regulations (the ACMPR). Botanicals is authorized to cultivate and sell both dried medical cannabis flowers and medical cannabis oils in Canada. Botanicals currently operates an indoor cultivation facility in Victoria, B.C., and plans to construct a much larger purpose-built hybrid greenhouse facility on 32 acres in metro Vancouver.

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