Quebec’s Hydropothecary inks agreement to raise CA$60M

Hydropothecary Corp. reached a deal to raise at least 60 million Canadian dollars ($50 million) that it plans to put toward working capital and general corporate purposes.

Under the so-called bought deal transaction, a group of underwriters has agreed to purchase 60,000 units of Hydropothecary convertible debentures. The convertible debentures can be converted into stock.

Hydropothecary — a medical marijuana producer based in Gatineau, Quebec, and traded as APH on the TSX Venture Exchange — said in a news release that the underwriters have an option to increase the financing to as much as CA$69 million.

The CA$60

…

Quebec’s Hydropothecary inks agreement to raise CA$60M is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Read More: Quebec’s Hydropothecary inks agreement to raise CAM