representative work

Cassels Represents Cormark Securities in Cannabix’s $4.6 Million Bought Deal Financing


On December 7, 2017, Cannabix Technologies Inc. completed a private placement of 4,000,000 units at a price of $1.15 per unit, for aggregate gross proceeds of $4.6 million. Each unit consists of one common share of Cannabix and one common share purchase warrant, each warrant entitling the holder to purchase one additional common share at an exercise price of $1.60 for a period of three years following closing. The offering was underwritten by Cormark Securities Inc., which exercised in full its option to purchase up to an additional 500,000 units at a price of $1.15 per unit.

Cassels acted for Cormark Securities with a deal team that included Chad Accursi, Shaun Khullar and Jackson Phillips (Securities).