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Home 🌿 Medical Cannabis News 🌿 Tweed Marijuana Inc. Announces $20 Million Bought Deal Financing 🌿

Tweed Marijuana Inc. Announces $20 Million Bought Deal Financing

Submitted by Marijuana News on Tue, 02/24/2015 - 22:03

OTTAWA, ONTARIO--(Marketwired - Feb. 24, 2015) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Tweed Marijuana Inc. (TSX VENTURE:TWD) ("Tweed" or the "Company") announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. and including Dundee Securities Ltd. and M Partners Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, 9,302,400 common shares (the "Common Shares") of the Company, at a price of $2.15 per Common Share (the "Offering Price") for aggregate gross proceeds to Tweed of $20,000,160 (the "Offering").

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,395,360 Common Shares at the Offering...

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