On December 28, 2017, Delta 9 Cannabis Inc. (TSXV: NINE) announced that it had closed its previously announced bought deal financing of units for aggregate gross proceeds to the company of $23,008,050, including proceeds from units sold pursuant to the full exercise of the underwriters’ over-allotment option. The offering was conducted by a syndicate of underwriters led by Canaccord Genuity Corp., and including PI Financial Corp., Beacon Securities Limited, Haywood Securities Inc. and Mackie Research Capital Corporation.
The units were offered by way of a short form prospectus filed in all of the provinces of Canada except Québec pursuant to National Instrument 44-101, Short Form Prospectus Distributions.
Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates a production facility in Winnipeg, Manitoba.
Miller Thomson advised the underwriters in this transaction with a team that included Peter McArthur, Dwight Dee, Kevin Sorochan and Erika Lai.