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Newstrike Resources Ltd. Completes $92 Million Bought Deal Financing
Newstrike Resources Ltd. (TSX-V:HIP) completed a bought deal public offering of an aggregate of 69,701,500 units for gross proceeds of over $92 million, including the exercise in full of the over-allotment option granted by the company to the underwriters. The units consisted of one common share and one common share purchase warrant.
Newstrike is the parent company of Up Cannabis Inc., a licensed producer of cannabis in Canada. Newstrike, together with its strategic partners, including Canada’s iconic musicians, The Tragically Hip, is developing a diverse network of high quality cannabis brands.
The offering was completed by a syndicate of underwriters co-led by INFOR Financial Inc. and Cormark Securities Inc., and including Eight Capital and Haywood Securities Inc.
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 Tajrin Nayeem (corporate/securities) and Katy Pitch and Millie Bojic (tax).
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