Marijuana multistate operator Harvest Health & Recreation raised $34.5 million (46 million Canadian dollars) through a public offering of subordinate stock, the company said Wednesday. The Arizona-based marijuana company said in a previous news release that it will use the proceeds for working capital and general corporate purposes. Each unit was sold for $1.70, which included a subordinate share of stock and one-half a warrant, according to a news release. Each warrant can be converted into a share of subordinate stock at an exercise price of $2.28 within the next 30 months. Harvest is trading at around $1.50 a share on the U.S. over-the-counter markets under the ticker symbol HRVSF.

Marijuana Business Daily, 10/29/2020 13:50:49

Open article: