trending Market Intelligence /marketintelligence/en/news-insights/trending/jqkfgfmqfe-z0crzt3df3q2 content esgSubNav
In This List

Newstrike Resources completes C$80M equity offering

Case Study

Identifying PPE Suppliers During the Pandemic

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective


Newstrike Resources completes C$80M equity offering

Toronto-based Newstrike Resources Ltd. completed its upsized equity offering of 60,610,000 units for gross proceeds of C$80 million.

The units were priced C$1.32 apiece. Each unit comprises a common share and a 24-month warrant to buy an additional common share for C$1.75.

The medical cannabis producer previously granted underwriters an overallotment option to buy up to an additional 15% of the units at the offering price, for additional proceeds of up to about C$12 million if exercised in full.

Newstrike plans to use the proceeds for building out its production facilities, retiring debt obligations and funding general corporate purposes.

Infor Financial Inc. and Cormark Securities Inc. co-led the syndicate of underwriters, which included Eight Capital and Haywood Securities Inc.