On March 9, 2017, Namaste Technologies Inc. completed its bought deal private placement of 45,352,000 units at a price of $0.25 per unit for total gross proceeds of $11,338,000. Each unit consisted of one common share of Namaste and one half of one common share purchase warrent. Each warrant entitles the holder thereof to acquire one common share of Namaste at a price of $0.35 for a period of 24 months following the closing date.
The offering was completed by a syndicate of underwriters co-led by Eight Capital and Canaccord Genuity Corp. and including Beacon Securities Limited.
Cassels Brock represented the underwriters with a team composed of John Vettese, Nancy Choi and Michael Alvaro (Securities).