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.