12:23:48 EDT Fri 19 Apr 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Dionymed Brands Inc
Symbol C : DYME
Shares Issued 20,163,720
Close 2019-04-15 C$ 3.00
Recent Sedar Documents

Dionymed Brands arranges $10-million private placement

2019-04-15 09:42 ET - News Release

Mr. Edward Fields reports

DIONYMED BRANDS INC. ANNOUNCES C$10 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF UNITS CO-LED BY CANACCORD GENUITY CORP. AND CORMARK SECURITIES INC. AND GRANTS OPTION TO INCREASE DEAL SIZE TO C$20 MILLION

Dionymed Brands Inc. has entered into an agreement with a syndicate of agents co-led by Canaccord Genuity Corp. and Cormark Securities Inc., pursuant to which the underwriters have agreed to purchase, on a bought deal private placement basis, 3,636,364 units of the company at a price of $2.75 per unit for aggregate gross proceeds to Dionymed of $10,000,001.

Each unit comprises one subordinate voting share and one subordinate voting share purchase warrant. Each subordinate voting share purchase warrant is exercisable into one subordinate voting share at a price of $3.80 per warrant share for a period of 36 months following the closing of the offering. The net proceeds from the offering will be used primarily toward the company's strategic growth initiatives and for general working capital purposes.

The closing of the offering is expected to occur on or about May 2, 2019, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals. Pursuant to the terms of the offering, the underwriters have been granted an option to purchase up to an additional 3,636,364 units at the issue price for additional gross proceeds to Dionymed of up to $10,000,001, which option is exercisable by the underwriters at any time prior to the closing date.

The company will pay cash commissions to the underwriters equal to 7 per cent of the aggregate gross proceeds of the offering. The underwriters will also receive broker warrants exercisable for a period of 36 months from the closing of the offering to acquire that number of units which is equal to 7 per cent of the number of units sold under the offering at an exercise price equal to the issue price.

About Dionymed Brands Inc.

Founded in 2017, Dionymed is a multistate cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. Dionymed sells branded products in every category from flower to vape cartridges, concentrates and edibles. Dionymed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfilment with its growing portfolio of award-winning brands.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.