Aphria Inc fka APHA

[Goodbuddy4863]

Aphria Closes Upsized $86mm Equity Sale, the Largest Capital Raise in Canada to Date:

https://www.newcannabisventures.com/aphria-closes-upsized-86mm-equity-sale-the-largest-capital-raise-in-canada-to-date/

LEAMINGTON, ONTARIO–(Marketwired – May 9, 2017) –

Aphria Inc. (“Aphria” or the “Company”) (TSX: APH) (OTC: APHQF) is pleased to announce it has closed its short form prospectus offering, on a bought deal basis, including the exercise in full of the underwriters’ over-allotment option. A total of 13,269,252 common shares (the “Shares”) of the Company were sold at a price of $6.50 per Share, for aggregate gross proceeds of $86,250,138 (the “Offering”). The Offering was underwritten by a syndicate of underwriters led by Clarus Securities Inc. and included Cormark Securities Inc., Canaccord Genuity Corp., and PI Financial Corp (collectively, the “Underwriters”).

50% of the net proceeds from the Offering will be allocated towards the currently unfunded portion of the planning, design, development, construction and implementation (including the purchase of certain designated capital equipment) of the Company’s’ Part IV Expansion. 10% of the net proceeds from the Offering will be allocated to the working capital necessary to support the Company once Part IV expansion is complete and the remaining 40% will be allocated towards strategic investments.

Until spent by the Company, a portion of the net proceeds of the Offering will be held as cash balances in the Company’s bank account and the remaining portion will be invested at the discretion of the Company’s Board of Directors.

The Shares were offered for sale in each of the provinces of Canada, other than the Province of Quebec, by short form prospectus, and in those jurisdictions outside of Canada and the United States which were agreed to by the Company and the Underwriters, where the Shares were issued on a private placement basis, exempt from any prospectus, registration or other similar requirements."