Business · Companies · 6 hrs ago
Avicanna closes $2 million private placement
Avicanna has closed a private placement to raise money for the company.
The Toronto-based biopharmaceutical company develops, makes and sells products derived from plant cannabinoids.
The offering raised about $2 million by selling 2,000 units at $1,000 each.
Each unit includes $1,000 in unsecured, non-convertible debentures and 2,000 warrants to buy common shares.
The debentures cannot be converted into shares and are due one year after the offering closed.
The financing gives Avicanna funds while giving investors warrants that can be used to purchase shares.
Repayment is due one year after closing, according to the announced terms.
Avicanna Inc. closed a non-brokered private placement that raised about $2 million in gross proceeds.
The company issued 2,000 non-convertible debenture units at $1,000 per unit.
Each unit includes $1,000 in principal amount of unsecured debentures and 2,000 common share purchase warrants.
The debentures mature one year after the offering closed.
- Who
- Avicanna Inc., a biopharmaceutical company focused on plant-derived cannabinoid-based products.
- What
- It closed a non-brokered private placement of non-convertible debenture units for about $2 million in gross proceeds.
- When
- October 29, 2026.
- Where
- Not stated.
- Why
- Not stated.
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- Gross proceeds
- Approximately $2,000,000
- Units issued
- 2,000
- Price per unit
- $1,000
- Warrants per unit
- 2,000 common share purchase warrants
- Debenture maturity
- One year after the offering closed