Aleafia Health closes $40.25 million public offering including full exercise of the over-allotment option

2 minute read
27 June 2019

On June 27, 2019, Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA: ARAH) announced that it had closed its previously announced public offering of convertible debenture units of the company for aggregate gross proceeds of $40.25 million, which included the full exercise of the over-allotment option. The offering was led by Mackie Research Capital Corporation and BMO Capital Markets and included Canaccord Genuity Corp.

Aleafia is a leading, vertically integrated cannabis health and wellness company. It owns three major cannabis product & cultivation facilities, two of which are licensed and operational, including the first large-scale outdoor cultivation facility in Canada. The company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators.

Gowling WLG advised Aleafia with respect to this transaction with a team that included Jason Saltzman, Marek Lorenc and Joseph McDonald.

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.