News: Emerald Health to Sell 4 million Shares at $2.70 VICTORIA, British Columbia, Dec. 03, 2018 (GLOBE NEWSWIRE) — Emerald Health Therapeutics, Inc. (TSXV:EMH) (“Emerald” or the “Company”) has entered into a binding term sheet with a single Canadian institutional accredited investor (the “Lead Investor”) under which the Lead Investor has agreed, subject to certain customary conditions, to purchase 4,000,000 common shares of the Company (the “Common Shares”) at a price of $2.70 per Common Share for gross proceeds of $10,800,000 (the “Offering”). The Offering may be increased by an additional 600,000 Common Shares for total aggregate gross proceeds of up to $12,420,000.
The Company intends to use the net proceeds of the Offering to fund the completion of capital projects, research and development, working capital, and general corporate purposes.
The Common Shares will be qualified under a shelf prospectus supplement to be filed by Emerald in each of the provinces of Canada, except Quebec, prior to closing in accordance with National Instrument 44-101 Short Form Prospectus Distributions and National Instrument 44-102 Shelf Distributions.
The closing date of the Offering is expected to be on or about December 7, 2018, and is subject to certain conditions including, but not limited to, the Lead Investor being satisfied with the results of its due diligence, no material adverse change in the affairs of the Company, and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.