Deveron (FARM) has announced a non-brokered private placement financing of C$3.5 million.
The company will issue 5,384,615 units priced at $0.65 per unit.
Each unit is comprised of one Deveron common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to acquire one common share for $0.85 for two years from the date of issuance.
The company will use the proceeds for working capital and general corporate purposes.
Deveron uses agricultural technology to help farmers increase yields, reduce costs and improve outcomes.
Deveron (FARM) is down by 1.56 per cent and is currently trading at $0.63 per share as of 10:56 am ET.