Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) is pleased to announce that it has closed its previously announced bought deal public offering (the “Offering”). The Offering consisted of an aggregate of 18,572,500 common shares of the Company at a price of C$8.05 per Share for aggregate gross proceeds to the Company of C$149,508,625, which included the exercise in full of the over-allotment option granted to the underwriters, before deducting the underwriters’ fees and estimated offering expenses.
Canaccord Genuity Corp., as sole book-runner, and ATB Capital Markets Inc. acted as co-lead underwriters of the Offering, on behalf of a syndicate of underwriters including Beacon Securities Limited, Eight Capital, Echelon Wealth Partners Inc., Paradigm Capital Inc. and PI Financial Corp. Alliance Global Partners acted as financial advisor to the syndicate.
The Offering was conducted in each of the provinces of Canada, other than Québec, pursuant to a prospectus supplement to the Company’s base shelf prospectus dated September 2, 2020 (the “Prospectus”) and elsewhere outside of Canada on a private placement basis.
The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes .
No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States or to or for the account or benefit of “U.S. persons” unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
