Namaste Technologies closes $40.25 million bought deal financing

On February 27, 2018, Namaste Technologies Inc. (CSE: N) (FRA: M5BQ) (OTCMKTS: NXTTF) announced that it had closed its previously announced bought deal short form prospectus offering of units, including the exercise in full of the over-allotment option, for gross proceeds of $40,251,495. 

The offering was completed by a syndicate of underwriters co-led by Eight Capital and Canaccord Genuity Corp. as co-lead underwriters and joint bookrunners, and including Beacon Securities Limited. 

Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste has majority market share in Europe and Australia, with operations in the UK, Canada and Germany. 

Gowling WLG advised Namaste with respect to this financing with a team that included Peter Simeon, Marek Lorenc and Shawn Blundell (corporate) and Paul Carenza (tax), assisted by student-at-law Joseph McDonald.