Toronto-based Adent Capital Corp. (NEX:ANT.H) and Khiron Life Sciences Corp. announced that Khiron has completed a private placement, led by Canaccord Genuity and Eight Capital, to raise CAD $11.2 million.
Khiron Life Sciences is a Canadian integrated medical cannabis company with core operations in Colombia. It brings scientific, agricultural and branding expertise to the medical Latin American market of over 620 million people. Adent Capital Corp. is a capital pool company formed under the TSXV capital pool company program.
Under the terms, Khiron issued 11.23 million subscription receipts at a price of $1.00 each for gross proceeds of $11,230,000. Each receipt gives the holder one unit in the capital of Khiron, and each unit consists of one common share and one share purchase warrant of Khiron. Each warrant allows the holder to buy one common share at $1.20 for 24 months.
Khiron has licenses in Colombia for high- and low-THC medical cannabis, and all licenses required for the cultivation, production, domestic distribution, and international export of both THC and CBD medical cannabis.