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Cassels Brock Represents the Underwriters in Sunniva Inc.'s $27.8 Million Bought Deal Public Offering

Published: 03/27/2018

Team: Cameron A. Mingay, Jay F. King, Gregory Hogan, Jackson Phillips, Rowan Groenewald, James G. Morand, Tera Li

On March 27, 2018 Sunniva Inc., a vertically integrated medical cannabis company with operations in Canada and the United States, completed a bought deal public offering for aggregate gross proceeds of approximately $27.8 million. A total of 2,850,900 units and 50,000 warrants of Sunniva were sold pursuant to the offering, including 284,900 units and 50,000 warrants issued as a result of the partial exercise of the underwriters’ over-allotment option, at a price of $9.75 per unit and $0.02 per warrant.

The offering was conducted by a syndicate of underwriters co-led by Beacon Securities Limited and Canaccord Genuity Corp. and including Bloom Burton Securities Inc.

Cassels Brock acted for the underwriters with a deal team that included Cam Mingay, Jay King, Greg Hogan, Jackson Phillips, and Rowan Groenewald (Securities and Cannabis) and Jim Morand and Tera Li (Tax).