On November 8, 2021, Brains Bioceutical Corp. closed the second tranche of financing in connection with a securities purchase agreement dated June 11, 2021. Brains issued 4,444,445 class A referred shares for gross proceeds of approximately US$10 million.
Brains is one of a few companies in the world producing CBD as an API for pharmaceutical applications, research, development and clinical trials. It is also one of the few manufacturers in commercial production in Europe with EU-GMDP certification, producing CBD API for both human and veterinary use within a MHRA licensed facility.
Cassels acted for Brains.