On June 25, 2020, Zenabis Global Inc.completed an overnight marketed offering of units for aggregate gross proceeds of $23,567,760. Each unit is comprised of one common share and a warrant exercisable to purchase one common share. The offering was made pursuant to an agency agreement with a syndicate of agents, co-led by AltaCorp Capital Inc. and Eight Capital. Zenabis intends to use the net proceeds of the offering for general working capital and corporate purposes, the partial repayment of subordinated secured notes, the partial repayment of its unsecured convertible debentures, the partial repayment of its senior secured debt, and the payment of an extension fee on its $7,000,000 third tranche of senior secured debt.
Zenabis Global Inc. is a Canadian licensed cultivator of medical and recreational cannabis specializing in the propagation and cultivation of floral and vegetable products.
Osler, Hoskin & Harcourt LLP advised Zenabis Global Inc. with a team consisting of Trevor Scott, Jason Comerford, Patrick Sullivan, Jie Chai, Kelsey Weiner, Michael Cremers (Corporate) and Timothy Hughes (Taxation).