DionyMed Brands Inc. Announces Closing of Oversubscribed Bought Deal Financing for C$10.5 Million in Gross Proceeds
Summary
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/TORONTO, May 7, 2019 /CNW/ - DionyMed Brands Inc. ("DionyMed" or the "Company") (CSE: DYME; OTCQB: DYMEF), a multi-state cannabis brands, distribution and direct-to-consumer delivery platform, has completed its previously announced bought deal private placement financing for total gross proceeds of approximately C$10.5 million (the "Offering"). The net proceeds from the Offering will be used primarily towards the Companys strategic growth initiatives and for general working capital purposes.Canaccord Genuity Corp. and Cormark Securities Inc. co-led a syndicate of underwriters, which included Beacon Securities Limited (collectively, the "Underwriters") in the Offering. Each Broker Warrant is exercisable to acquire one Unit until May 7, 2022 at an exercise price equal to the Issue Price.In connection with the Companys late filing of its audited financial statements and managements discussion and analysis for the year ended December 31, 2018 (the "Annual Financial Statements"), the Companys previously announced application for a management cease trade order under National Policy 12-203 Management Cease Trade Orders has been granted by the British Columbia Securities Commission. DionyMed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfillment with its growing portfolio of award-winning brands. Learn more at dionymed.com and follow @DYME_Inc on Twitter and LinkedIn.This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995.