trending Market Intelligence /marketintelligence/en/news-insights/trending/VrHCrMaNDLvB_jzcjecKzQ2 content esgSubNav
In This List

ICC International closes C$23M units offering

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


ICC International closes C$23M units offering

ICC International Cannabis Corp. closed its bought-deal offering of 23 million units for C$1 apiece, raising gross proceeds of C$23 million.

The units sold include the full exercise of the underwriters' option to buy additional units in the offering.

Each unit consisted of a common share and one-half of a share purchase warrant. Each whole warrant allows the holder to buy one common share at an exercise price of C$1.50 apiece until Nov. 22, 2019.

ICC International will use the net proceeds to construct a hemp extraction and processing laboratory in Canelones, Uruguay; to facilitate expansion into new international markets; and for general working capital purposes.

The offering was underwritten by a syndicate of underwriters led by GMP Securities LP, including Haywood Securities Inc. and PI Financial Corp.