On December 23, 2020, GreenSpace Brands Inc. closed a best efforts private placement of 150,000,000 units at a price of $0.05 per unit for gross proceeds of $7.5 million. Each unit consists of one common share of GreenSpace and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share of GreenSpace at an exercise price of $0.08 for a period of 24 months following the closing date.
The offering was conducted by a syndicate of agents led by PI Financial Corp., and including Canaccord Genuity Corp. and Richardson Wealth Limited.
Cassels acted for the agents with a deal team that included Greg Hogan, Florence Lau and Reza Sarsangi (Securities) and Chandimal Nicholas (Intellectual Property).