On December 28, 2017, DOJA Cannabis Company Limited (CSE: DOJA) announced the closing of its previously announced bought deal private placement of units comprised of convertible debentures and warrants for gross proceeds of $17.25 million, which included the exercise in full of the underwriters’ over-allotment option. Each unit is comprised of $1,000 principal amount of 8.0% unsecured convertible debentures and 403 common share purchase warrants of the company.
The offering was led by Canaccord Genuity Corp. on behalf of a syndicate of underwriters that included Mackie Research Capital Corporation and Haywood Securities Inc.
DOJA’s wholly owned subsidiary is a licensed producer of cannabis under the ACMPR. The company’s production facility is located in British Columbia’s Okanagan Valley.
Miller Thomson advised the underwriters in this transaction with a team that included Dwight Dee and Elizabeth Holden.