One of Gatineau’s emerging players in the cannabis and hemp space added a bit of cash to its operations through a private placement this week.
LiveWell Canada announced Thursday that it has closed a non-brokered private placement of nearly two million units at a price of 80 cents each, yielding total proceeds of $1.55 million. Offering few details, the company said in a statement that the funds raised will go towards working capital purposes.
A portfolio company of Smiths Falls-based Canopy Growth’s investment arm, LiveWell develops products from the non-psychoactive compound in cannabis, CBD. The Gatineau company converted an Ottawa greenhouse into a growing operation earlier this year and recently reported its first public earnings.
These planning principles reflect the hospital’s ambitious vision of the future of health care in our city.
Last month, LiveWell acquired a Windsor-area company in a deal worth $20 million.