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Nemus Bioscience closes $1.8M private placement

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.