Aleafia Health Inc (fka ALEAF)

[FUNMAN]

See blue --->>> Aleafia Health increases bought deal offering to $20M • 9:38 AM

Aleafia Health (OTCQX:ALEAF) agreed to increase the size of its earlier announced bought deal units offering; udnerwriters agreed to purchase 24M units at $0.83/unit for gross proceeds of $19.92M.

Each Unit will be comprised of one common share and one-half of one Common Share purchase warrant; each warrant enables holder to purchase one share at $1.05 for 2 years post offer close (Mar.9).

Underwriters granted over-allotment option of purchasing additional 15% of the units; if option fully exercised, the company will receive an additional $2.99M.

Proceeds to be used for general corporate purposes.

Today's PPS beat down is a direct correlation to the fundraising. The silver lining is they will still be better capitalized, and the $25M cash repayment still keeps in place the annual $2M interest savings. IMO, on balance Aleafia is better off today than a month ago. - FUNMAN