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Emerald Health Therapeutics Outlines $18 Million Sale Deal
Author: Bryan Mc Govern  08/02/2018 - 16:27:00

Emerald Health Therapeutics (TSXV:EMH) announced a binding term sheet for a purchase deal worth 3,000,000 units for total gross proceeds of $18,000,000 with an undisclosed “Canadian institutional accredited investor”

As quoted in the press release:

Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the Investor to acquire one common share of the Company (a “Warrant Share”) at a price of $7.00 per Warrant Share for a period of six months following the closing of the Offering. If the closing sale price of the Company’s common shares (the “Common Shares”) on the TSX Venture Exchange or other principal exchange upon which the Company’s shares are traded is greater than $8.50 per Common Share for a period of five consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving notice to the Investor and in such case the Warrants will expire on the 15th day after the date on which the notice is given by the Company.

The Investor has also agreed to purchase from Emerald Health Sciences Inc. (“Sciences”), a control person of the Company, 2,000,000 Common Shares held by Sciences at a price of $6.00 per share (the “Secondary Sale”). The Secondary Sale will close concurrently with the closing of the Offering.

Click here to read the full press release.

The post Emerald Health Therapeutics Outlines $18 Million Sale Deal appeared first on Investing News Network.

Original article from investingnews.com: Emerald Health Therapeutics Outlines $18 Million Sale Deal

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