On May 8, 2019, Abacus Health Products announced the closing of its $34 million bought deal offering. The offering was underwritten by a syndicate of dealers led by Eight Capital and including GMP Securities LP, Cormark Securities Inc., Haywood Securities Inc. and Paradigm Capital Inc. Abacus Health Products intends to use the net proceeds to accelerate the company's marketing and sales programs, increase its retail pharmacy store location and advance the international distribution of its products.
Abacus Health Products, based in Toronto, Canada, manufactures and sells over-the-counter (OTC) topical formulations infused with cannabidiol (CBD) extracted from hemp.
Osler, Hoskin & Harcourt LLP represented Abacus Health Products with a team consisting of Eric Levy, Jason Comerford, Bastien Gauthier, Jeremy Brisset, Jie Chai, Jean-Philippe Bertrand (Corporate), Manon Thivierge and Kevin Colan (Tax).