On January 28, 2021, Red Light Holland Corp. completed a bought deal short form prospectus offering of 38,334,100 units at a price of $0.255 per unit for aggregate gross proceeds of approximately $9.77 million, which includes the exercise in full of the underwriter’s over-allotment option.
Each unit is comprised of one common share of Red Light Holland and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of $0.38 for a period of 42 months following the closing, subject to acceleration in the event the volume weighted average trading price of the common shares exceeds $0.89 for 10 consecutive trading days.
The offering was conducted by Eight Capital as underwriter.
Cassels acted for Eight Capital.