M7’s shares launched at the modest price of 50 Canadian cents, or 37 cents per share, with 87,529,325 shares listed and trading. The company has 100,959,035 shares reserved for issuance on the exercise of various conversion options from prior placements. According to reports, M7 raised $10.2 million of private investment this year in the lead up to its listing. The investment took the form of three private placements of equity and convertible debt, a 15% interest convertible note offering netting $2.5 million, a 17.5% interest convertible note offering netting $5.4 million, and a unitized private placement netting $2.3 million.
Mmp News Author, Medical Marijuana Program Connection, 09/30/2020 21:05:23