iAnthus Capital Holdings Inc. (
CSE: IAN,
OTCQB: ITHUF,
Forum) today announced the closing of its recently offered bought-deal private placement. The aggregate gross proceeds from the offering total $20 million (CAD).
The offering comes in the form of a$20 million in 8.0% unsecured convertible debentures. The debentures can be converted into common shares at the discretion of the holder, any time prior to the close of business on February 28, 2019. The conversion price on the debentures is $3.10 per common share of the Company.
An acceleration clause permits iAnthus to alter the terms of conversion should the daily volume weighted average trading price of the common shares exceed $4.50 (CAD) for 10 consecutive trading days. Further information can be found
here.
The Company was recently in the news when it announced that the bought-deal financing originally released on February 6, 2017 had been
increased to $20 million (CAD).
FULL DISCLOSURE: iAnthus Capital Holdings Inc is a paid client of Stockhouse Publishing.