Greenlane Renewables Inc T.GRN

positive development

[bmbruce]

VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Greenlane Renewables Inc. (TSXV: GRN) (Greenlane or the Company) is pleased to announce that based on strong demand it has increased the size of its previously announced bought deal offering from $20 million to $23 million. Pursuant to the amended terms, the syndicate of underwriters led by TD Securities Inc. (the "Underwriters") agreed to purchase, on a bought deal basis, 10,600,000 common shares of the Company (the "Shares") at a price of $2.17 per Share, for gross proceeds of approximately $23 million (the "Offering"). The Company will also grant to the Underwriters an over-allotment option (the "Over-Allotment Option") to increase the size of the Offering by up to an additional 15%, such option being exercisable in whole or in part at any time prior to 30 days after the closing of the Offering. The Company will use the net proceeds of the Offering for development of and investments in new renewable natural gas projects, for strategic growth initiatives, and for general corporate purposes (including the Companys ongoing business initiatives) and working capital. The Offering is expected to close on or about January 27, 2021, subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange..... https://www.globenewswire.com/fr/news-release/2021/01/20/2161491/0/en/Greenlane-Renewables-Announces-Increase-to-Bought-Deal-Offering.html

[jboom70]

That was fast.

[jboom70]

1 mil volume in 20 min. smok'in!!!

[jboom70]

If thew volume keeps up those that sold to average down will get smoke'd.

[oceaneleven]

bought deal increased to 23 million now... should close a week from today.. I missed the morning deals because I couldn't access my accoounts do to server issues uuugghh. but lunch time coming and should be able to get a bit of a deal then me thinks, if not end of day.......