Avicanna Closes Non-Brokered Private Placement Successfully
![Avicanna Closes Non-Brokered Private Placement Successfully](https://investorshangout.com/images/blog/ihnews-Avicanna%20Closes%20Non-Brokered%20Private%20Placement%20Successfully.jpg)
Avicanna Closes Non-Brokered Private Placement
TORONTO – Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), an international biopharmaceutical company specializing in cannabinoid-based products, is pleased to announce the successful closing of a non-brokered private placement. This offering consisted of 6,620,692 units priced at $0.30 each, resulting in gross proceeds of $1,986,207.
Details of the Offering
Each unit from the offering comprises one common share and one-half common share purchase warrant. The warrants enable holders to acquire one additional common share at an exercise price of $0.40 per share, subject to adjustments in specified circumstances, with a validity until August 28, 2027.
Use of Proceeds
The capital acquired through this offering is earmarked for a variety of purposes, including general working capital needs, administrative expenses, research and clinical development efforts, and the repayment of existing debt. This funding will significantly enhance Avicanna's operations and support the launch and advancement of its innovative products.
Conditions and Finder's Fees
The private placement is also subject to regulatory approvals, including clearance from the Toronto Stock Exchange. Avicanna has remunerated finders a total of $58,503 in cash fees along with issuing 195,010 warrants. Each finder’s warrant allows the holder to purchase one common share at an exercise price of $0.40, valid until August 28, 2027.
About Avicanna Inc.
Avicanna is at the forefront of the biopharmaceutical sector, concentrating on developing cannabinoid-based products tailored for global medical and pharmaceutical markets. The Company boasts a robust scientific platform, which facilitates research and development leading to the commercialization of over thirty proprietary, evidence-based products.
Medical Cannabis Formulary
Avicanna’s formulary, RHO Phyto™, offers a wide range of proprietary products designed for various delivery methods, including oral, sublingual, topical, and transdermal. This established brand is recognized in Canada and is making strides into international markets while continually educating healthcare professionals and patients.
Medical Cannabis Care Platform
In addition, Avicanna operates MyMedi.ca, a dedicated platform for medical cannabis that enhances the patient experience. This platform is tailored to meet various patient needs and includes programs led by bilingual pharmacists. Additionally, it collaborates with payers to facilitate patient access to medical cannabis.
Pharmaceutical Products and Pipeline
Avicanna is also advancing its pipeline of proprietary pharmaceutical products. The Company has secured approval for its drug Trunerox™ as an adjunct treatment for specific seizure disorders, marking a significant milestone for its pharmaceutical offerings.
Active Pharmaceutical Ingredients
The Company’s subsidiary, Santa Marta Golden Hemp SAS, plays a crucial role in providing high-quality CBD, THC, and CBG. These active pharmaceutical ingredients are essential for Avicanna’s extensive product offerings across multiple industries including food, cosmetics, and pharmaceuticals.
Get in Touch with Avicanna
Interested parties can learn more about Avicanna by visiting their official website. For inquiries, Ivana Maric can be contacted via email at info@avicanna.com. Furthermore, Avicanna is active on social media platforms, providing continuous updates and insights into their business activities.
Frequently Asked Questions
What is the significance of the recently closed private placement?
The private placement enables Avicanna to raise significant capital to support its operations and product development efforts, positioning the company for future growth.
What does each unit in the private placement entail?
Each unit consists of one common share and a warrant that allows the holder to purchase an additional common share at a predetermined price.
How will Avicanna use the funds from this offering?
Funds will be allocated towards working capital, administrative expenses, research and clinical development, as well as debt repayment.
What products does Avicanna offer in the cannabinoid market?
Avicanna has developed a diverse range of cannabinoid-based products across various applications, including medical formulations, consumer products, and pharmaceuticals.
How can I contact Avicanna for more information?
For inquiries, individuals can contact Ivana Maric at info@avicanna.com or visit their website for more information.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- NuLegacy Gold Completes First Tranche of Private Placement
- JBDI Holdings Limited Closes $11.25 Million IPO Successfully
- Sienna Senior Living Closes Successful Common Share Offering
- Man Group PLC Discloses Interests in Keywords Studios
- Leading Edge Materials Secures Private Placement Extension
- LVMH Discloses Recent Share Transactions and Insights
- Redalpine Closes $200M Fund and Expands to London
- Avicanna Secures Patent for Innovative Topical Cannabinoid Technology
- Elis Discloses Share Capital and Voting Rights Information
- Kingswood Capital Partners Closes $8 Million IPO for WORK MedTech