Newstrike Resources Ltd. Completes $51.75 Million Bought Deal FinancingJune 19, 2018
Newstrike Resources Ltd. (TSX-V:HIP) completed a bought deal public offering of an aggregate of 69,000,000 units for gross proceeds of $51,750,000, including the full exercise of the over-allotment option granted by the company to the underwriters. The offering was completed by a syndicate of underwriters co-led by Cormark Securities Inc. and INFOR Financial Inc., and including Haywood Securities Inc. and Eight Capital.
Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis in Canada. Newstrike, through Up Cannabis and together with select strategic partners, including Canada’s iconic musicians The Tragically Hip, is developing a diverse network of high quality cannabis brands.
Wildeboer Dellelce LLP acted for the underwriters in connection with the offering with a team that consisted of Rob Wortzman, Michael Rennie, Amir Torabi and Sarim Ali (corporate/securities) and Katy Pitch (tax).
Cormark Securities Inc.
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