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Emerald Health raises C$18M in units offering

Emerald Health Therapeutics Inc. raised C$18 million via the sale of 3 million company units at C$6 each to an undisclosed investor.

Each unit comprised of a common share and a warrant to purchase an additional stock for C$7 apiece.

The Canadian cannabis producer will use proceeds for its production and research and development-related growth plans.

The investor, who previously acquired 2 million shares of the company, plans to exercise 3 million warrants of the company that were issued in January.

Those warrants will be exercised at a price of C$6 each.