RE:Financing 9.8 million shares at $4.08kijiji wrote: ORIGIN HOUSE ANNOUNCES CLOSING OF US $30MM NON-BROKERED FINANCING
CannaRoyalty Corp., doing business as Origin House, has closed its previously announced non-brokered financing. In connection with the Financing, Origin House issued approximately 9,800,000 common shares of Origin House ("Common Shares") at a price of C$4.08 per Common Share for aggregate net proceeds of approximately C$39,600,000 .
The Financing was fully subscribed, and substantially all of the proceeds are being held in escrow pending closing of the previously announced plan of arrangement (the "Arrangement") transaction pursuant to which Cresco Labs Inc. will acquire all of the issued and outstanding shares of Origin House in an all-stock transaction, as amended on November 13, 2019. The completion of the Financing satisfies one of the remaining conditions to closing the Arrangement. The remaining $274,380 of the proceeds have been paid directly (the "Direct Subscription") to Origin House. The Common Shares issued in connection with the Direct Subscription are subject to a four month and one day statutory hold period. The Company expects to pay approximately $340,000 in finders fees in connection with the Financing.
Very happy to see them get the financing out of the way. No more barriers to closing deal with Cresco now. Hopefully Cresco goes on a tear before the transaction takes place.
Current gap CL $7.66 x .703 = $5.39
Closed at $4.51 yesterday so there is still a decent gap.
Good luck!
Mayham