MedReleaf to raise $60 million in bought deal financing

Markham, Ontario-based medical cannabis producer MedReleaf (TSX: LEAF), the 2nd largest cannabis producer by revenue at $9.8 million last quarter, announced it will sell $100 million of common shares through syndicate leader GMP Securities. The company will keep $60 million, and $40 million will go to selling shareholders that include Zola Finance, Rayray Investments, and others.

The company will use the proceeds to finance additional cannabis production facilities in Canada and other countries. MedReleaf has increased production capacity by 80% since April 2017.

MedReleaf is offering the underwriters an optional additional allotment of 543,000 common shares for 30 days if sales are strong. This would raise an additional $9 million, most of which will go to MedReleaf.

The shares will be sold throughout Canada. They will not be sold in the USA.

Source: MedReleaf press release

MedReleaf to raise $60 million in bought deal financing

About Cannin.com: Your Marijuana Stocks Resource

Cannin is your #1 resource for marijuana stocks. Our global team of experts evaluates all emerging marijuana stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana stock investments for 2020.

Use Cannin as your resource for:

Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.

Many market analysts expect the legal marijuana industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in marijuana stocks is now.

Are you interested in marijuana stocks like Curaleaf, Trulieve, Aurora Cannabis, or Charlotte’s Web,?

Are you looking to buy stock in marijuana companies for 2020? Interested in emerging penny marijuana stocks? Looking for the best Canadian marijuana stocks to invest in? We can help.

Predict price movements of marijuana stocks several hours in advance with our proprietary algorithmic stock trading software.

+25% Gains in 2020
+49.8% Gains in 2019
108% Backtested since 2012

We’re so confident you’ll love our algotrading marijuana stock signals, we’re willing to give you a one-month risk-free trial to see it for yourself.

Profit from the best marijuana stocks – we’ll show you how at cannin.com.

Marijuana Stocks, Pot Stocks, Algorithmic Stock Trading, Hemp Stocks to Buy

MedReleaf to raise $60 million in bought deal financing