48 North Cannabis Announces 3 Million Capital Raise
The financing is to be done in cooperation with Cormark Securities.
48North Cannabis (OTCPK: NCNNF + 14.2%) has entered into an agreement with Cormark Securities that Cormark will offer up to 20 million units for sale at a price of $ 0.15 / unit for gross proceeds of $ 3 million . Each unit includes one common share and a warrant to purchase one common share. Each 2.5 year warrant has an exercise price of $ 0.30. Underwriters have an option to purchase up to an additional 15% of the units sold in the offering.