Aleafia Health Inc. Announces Closing of Business Combination Between Canabo Medical Inc. and Aleafia Inc.
Summary
The Private Placement was co-led by Mackie Research Capital Corporation, as sole bookrunner, and Canaccord Genuity Corp., together with a syndicate of agents that included Clarus Securities Inc. and PowerOne Capital Markets Limited (collectively, the Agents).Gross proceeds of the Private Placement are now immediately available for the Company for the continuing development of its vertically integrated medical cannabis business, to retire the vendor-take back mortgage on Aleafia Farms Inc.s Scugog property where the Companys licensed cannabis production facility operates and for general working capital purposes.We are delighted to have formally completed the vertical integration of our two companies, and look forward to a long and meaningful partnership as we go forward as one, patient-focused, physician-led and research driven organization, said Aleafia Health Inc. Executive Chairman, Julian Fantino, on behalf of the board of directors. We look forward to having more to say this coming Wednesday, at which time we will make a more formal announcement, Fantino concluded.The Company now has 135,944,461 common shares, 12,315,850 warrants and 6,689,000 stock options issued and outstanding.It is expected that the TSX Venture Exchange will issue a bulletin on Tuesday, March 27, 2018 to advise that trading of Aleafia Healths common shares will recommence on Wednesday, March 28, 2018 under the trading symbol ALEF.The Company is also pleased to announce that it now has a board of directors of five (5) and that its directors and officers now consist of the following individuals:Hon. Since 2004, Mr. Souccar has emerged as a leading expert on cannabis legalization through his global travel and study of foreign public policy measures, and his counsel provided to successive Ministers of Justice. While most clinical programs are geared primarily towards post injury rehabilitation, the Aleafia Network is focused on the strong link between early intervention and successful treatment. Aleafia Health operates referral-only medical clinics dedicated to evaluating the suitability of prescribing, and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illnesses.