Nemus Bioscience Inc. received about $1.8 million in the final closing of a private placement with Emerald Health Sciences Inc.
Emerald Health bought 15 million ordinary Nemus shares and warrants to buy an additional 20.4 million shares at 10 cents apiece.
On a fully converted basis, Emerald holds a majority of Nemus' outstanding share capital.
Costa Mesa, Calif.-based Nemus intends to use proceeds for working capital and to explore potential strategic opportunities.
Emerald Health and Nemus are focused on cannabinoid-based therapeutics.