Site Search
Use small fonts Use medium fonts Use large fonts Email link to page


Related expertise

Cassels Brock Represents the Underwriters in Indiva Limited's $14.95 Million Bought Deal Financing

Published: 02/13/2018

Team: Nancy Choi, Shaun Khullar, Chad Podolsky

On February 13, 2018, Indiva Limited, a federally-licensed producer of medical cannabis, closed a bought deal offering of 14,238,150 units at a price of $1.05 per unit for aggregate gross proceeds of approximately $14.95 million, which included the full exercise of the over-allotment option granted to the underwriter for 1,857,150 units. Each unit consisted of one common share of Indiva and one common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of $1.30 until February 13, 2020, subject to an acceleration. The offering was underwritten by Eight Capital, as sole bookrunner and lead underwriter, and PI Financial Corp.

Cassels Brock acted for the underwriters with a deal team that included Nancy Choi, Shaun Khullar and Chad Podolsky (Securities and Cannabis).