Mar­i­cann ar­ranges $50.07M bought deal

Stockwatch Daily - - CONSUMER GOODS - Mr. Gra­ham Far­rell re­ports

MAR­I­CANN GROUP Inc. has en­tered into an agree­ment with a syn­di­cate of un­der­writ­ers led by Canac­cord Ge­nu­ity Corp., pur­suant to which the un­der­writ­ers will pur­chase, on a bought-deal ba­sis pur­suant to

the fil­ing of a short-form prospec­tus, an ag­gre­gate of 30.35 mil­lion units of the com­pany at a price of $1.65 per unit for ag­gre­gate gross pro­ceeds of $50,077,500.

Each unit will con­sist of one com­mon share and one-half of one com­mon share pur­chase war­rant of the com­pany. Each war­rant will be ex­er­cis­able to ac­quire one com­mon share of the com­pany for a pe­riod of three years fol­low­ing the clos­ing date (as here­inafter de­fined) at an ex­er­cise price of $2.15 per com­mon share, sub­ject to ad­just­ment in cer­tain events. In the event that the vol­ume-weighted aver­age trad­ing price of the com­mon shares for 10 con­sec­u­tive trad­ing days ex­ceeds $3.25, the com­pany shall have the right to ac­cel­er­ate the ex­piry date of the war­rants upon not less than 30 days no­tice.

The com­pany has agreed to grant the un­der­writ­ers an over­al­lot­ment op­tion to pur­chase up to an ad­di­tional 4,552,500 units at the of­fer­ing price, ex­er­cis­able in whole or in part, at any time and from time to time on or prior to the date that is 30 days fol­low­ing the clos­ing date. The over­al­lot­ment op­tion may be ex­er­cised to ac­quire units, com­mon shares and/or war­rants of the com­pany. If the over­al­lot­ment op­tion is ex­er­cised in full, an ad­di­tional $7,511,625 in gross pro­ceeds will be raised pur­suant to the of­fer­ing and the ag­gre­gate gross pro­ceeds of the of­fer­ing will be $57,589,125.

The units will be of­fered by way of a short-form prospec­tus to be filed in all prov­inces of Canada, other than Que­bec. The com­pany in­tends to use the net pro­ceeds from the of­fer­ing for po­ten­tial ac­qui­si­tions, work­ing cap­i­tal and gen­eral cor­po­rate pur­poses.

The of­fer­ing is ex­pected to close on or about Oct. 31, 2018, and is sub­ject to cer­tain con­di­tions in­clud­ing, but not limited to, the re­ceipt of all nec­es­sary reg­u­la­tory and stock ex­change ap­provals, in­clud­ing the ap­proval of the Cana­dian Se­cu­ri­ties Ex­change and the ap­pli­ca­ble se­cu­ri­ties reg­u­la­tory au­thor­i­ties.

Mar­i­cann Group, through its sub­sidiaries, is op­er­at­ing un­der the Way­land Group name. For fur­ther de­tails see the press re­lease dated Sept. 24, 2018.

About Way­land Group Corp. (pre­vi­ously Mar­i­cann Group Inc.)

Way­land is a ver­ti­cally in­te­grated pro­ducer and dis­trib­u­tor of cannabis for med­i­cal pur­poses. The com­pany was founded in 2013 and is based in Burling­ton, Ont., Canada, and Mu­nich, Ger­many, with pro­duc­tion fa­cil­i­ties in Lang­ton, Ont., where it op­er­ates a medic­i­nal cannabis cul­ti­va­tion, ex­trac­tion, for­mu­la­tion and dis­tri­bu­tion busi­ness un­der fed­eral li­cence from the gov­ern­ment of Canada. The com­pany also has pro­duc­tion op­er­a­tions in Dres­den, Sax­ony, Ger­many, and Re­gens­dorf, Switzer­land. Way­land is cur­rently un­der­tak­ing an ex­pan­sion of its cul­ti­va­tion and sup­port fa­cil­i­ties in Canada in a 942,000square-foot (87,515 sq m) foot­print upon full build­out, and will con­tinue to pur­sue new op­por­tu­ni­ties in Europe.

We seek Safe Har­bor.

Ger­hardus Muller, Sumesh Paul Pathak, Eric Sil­ver, Michael Brian Stein, Ben­jamin Arnold Ward

(WAYL) Shares: 139,883,761

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