Hydropothecary has locked down a previously announced bought deal placement, with investors taking an over-allotment option for an extra $20 million in financing.
The full round is worth $150 million and currently stands as the largest public equity deal in Canadian cannabis history – for at least a few days. Smith Falls-based pot producer Canopy Growth expects to close a $200-million round next week.
Hydropothecary (TSX-V:THCX) initially announced it would raise $100 million a few weeks ago, but immediately increased the deal value due to high demand.
OBJ360 (Sponsored)
Experience Canadian Culinary Excellence!
Every February, Ottawa turns into Canada’s culinary capital for the weekend. Chefs from across the country who have won their regional championships will converge on Ottawa Jan. 31 to Feb.
Ontario SMEs gain access to cutting-edge cybersecurity training
uOttawa Professor Guy-Vincent Jourdan says he initially never would have guessed a year ago he’d be concocting simulated social media feeds and made-up news broadcasts. But that was before becoming
Chief executive Sébastien St. Louis told OBJ then that the new funding will allow Hydropothecary to tackle the Canadian cannabis market.
The Gatineau company has had an up-and-down week on the TSX Venture Exchange. Shares hit a high of $5.25 a week ago but have dropped below $4 since, a decrease of more than 25 per cent over the past seven days.
