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SpeakEasy Cannabis to raise C$5M for working capital

Speakeasy Cannabis Club Ltd. is selling up to 7,692,308 units at 65 Canadian cents each in a private placement.

Each unit will consist of one common share and one 2-year common share purchase warrant. The warrants will be exercisable at C$1 per share.

The Vancouver, Canada-based medical cannabis company expects gross proceeds of up to C$5 million from the offering. SpeakEasy plans to use the proceeds for working capital and general corporate purposes.

The placement is expected to close in early April.