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The Supreme Cannabis Company, Inc. (TSX:FIRE) (OTCQX:SPRWF) confirmed the pricing of its earlier announced public offering of units at a price of 19 cents per unit.
The underwriters agreed to buy 105.26 million units for gross proceeds of around $20 million.
The units will be offered in every Canadian province, except for Quebec.
Under the offering, each unit will consist of one share and one half of one share purchase warrant, which will be exercisable to buy one share of the company in the following 36 months upon the closing date of the offering at a price of 23 cents per warrant share.
The offering should close around Jan. 29.
BMO Capital Markets was tapped to be the bookrunner.
Supreme Cannabis has provided the underwriters with a 30-day option to buy up to an extra 15% of the units offered in the offering, under the same conditions.
The company noted it intends to utilize the collected net proceeds to support its growth plans and ordinary corporate activities.
Toronto-based Supreme is known for its international diversified portfolio of cannabis enterprises, products and brands.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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