Origin House announces that it has closed its previously announced non-brokered financing
In connection with the Financing, Origin House issued approximately 9,800,000 common shares of Origin House at a price of C$4.08 per Common Share for aggregate net proceeds of approximately C$39,600,000.
The Financing was fully subscribed, and substantially all of the proceeds are being held in escrow pending closing of the previously announced plan of arrangement transaction pursuant to which Cresco Labs Inc. will acquire all of the issued and outstanding shares of Origin House in an all-stock transaction, as amended on November 13, 2019.
The completion of the Financing satisfies one of the remaining conditions to closing the Arrangement. The remaining $274,380 of the proceeds have been paid directly to Origin House.
The Common Shares issued in connection with the Direct Subscription are subject to a four month and one day statutory hold period. The Company expects to pay approximately $340,000 in finders fees in connection with the Financing.
Disclaimer: Past performance is not an indicator of future performance.
Disclaimer: past performance is not an indicator of future performance
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