On May 25, 2020, CordovaCann Corp., a cannabis-focused consumer products company, closed a non-brokered private placement financing, pursuant to which CordovaCann issued 6,210,190 common shares at a price of $0.25 per share for gross proceeds of approximately $1.5 million. The proceeds of the offering are intended to be used for capital expenditures in relation to CordovaCann’s retail operations as well as general corporate purposes and working capital needs.
Cassels acted for CordovaCann with a deal team that included Andrew Reback (Tax) and Jay King and Kyle Simpson (Securities and Cannabis).