Reply to my email....Sorry to miss your call…I’ve been swamped as you can imagine. Here is some information for you on why we did the offering and how the price came about:
· This financing will assist the company in maintaining financial strength and provide management with flexibility on when it chooses to access additional capital;
Management wished to keep the offering size on the lower end to limit dilution of our share capital – if $25 million is raised, it will represent 6% dilution (excluding warrants); however, we may take additional capital if it is offered;
· Management believes that having the additional 11.1 million shares out in the public float will immediately assist with expanding our shareholder base and increasing trading volume; and
· The share price was determined on a best-efforts basis by the offering’s agents based on the nature of the public cannabis market for new issuers and investor appetite.
If you have more questions, please feel free to reach out again.
Best wishes,