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Indiva Ltd
Symbol C : NDVA
Shares Issued 65,603,886
Close 2018-02-12 C$ 0.96
Recent Sedar Documents

Indiva closes $14.95-million bought deal

2018-02-13 10:35 ET - News Release

Mr. Niel Marotta reports

INDIVA CLOSES $14,950,000 PUBLIC FINANCING OF UNITS

Indiva Ltd. has closed its previously announced bought deal short-form prospectus offering of units of the company, which included the exercise of the overallotment option granted to the underwriters in full. In connection with closing of the offering, 14,238,150 units were sold at a price of $1.05 per unit for aggregate gross proceeds of $14,950,057.50. The offering was completed by a syndicate of underwriters including Eight Capital, as sole bookrunner and lead underwriter, and PI Financial Corp.

Each unit comprised one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of $1.30 until Feb. 13, 2020. If the volume-weighted average price of the common shares on the TSX Venture Exchange is equal to or greater than $2.10 for any 10 consecutive trading days, the company may, upon providing written notice to the holders of warrants within 10 days of the occurrence of such event, accelerate the expiry date of the warrants to the date that is 30 days following the date of such written notice.

As consideration for their services, the underwriters received a cash commission equal to 7 per cent of the gross proceeds of the offering. As additional consideration, the company issued a total of 996,670 compensation options to the underwriters. Each compensation option is exercisable into one unit at the issue price until Feb. 13, 2020.

The company intends to use the net proceeds of the offering for capital expenditures, working capital and general corporate purposes, as more particularly described in the company's short-form prospectus dated Feb. 7, 2018.

The units were offered and sold by way of a short-form prospectus filed in each of the provinces of Canada, excluding Quebec.

About Indiva Ltd.

Indiva is a Canadian producer of high-quality, medical-grade cannabis. Indiva's strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow team with GMP (good manufacturing practices) compliant quality assurance standard operating procedures.

Indiva's wholly owned subsidiary is a licensed producer under Canada's Access to Cannabis for Medical Purposes Regulation (ACMPR) with its first indoor cannabis production facility located in London, Ont.

We seek Safe Harbor.

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