Test
Back to all Representative Matters
Mar 9, 2021

MediPharm Labs Closes $33 Million Bought Deal Equity Financing

Melanie Cole, Amy Marcen-Gaudaur, Meredith McCann and Barbara Worndl

MediPharm Labs Corp. (“MediPharm”), a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, recently completed a bought deal offering of units (“Units”) for total gross proceeds of $33,350,000.

On March 5, 2021, MediPharm completed the offering through the issuance of 57,500,000 Units (including 7,500,000 Units issued pursuant to the exercise of the underwriters’ over-allotment option in full prior to closing) at a price of $0.58 per Unit. Each Unit was comprised of one common share in the capital of MediPharm (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Share at an exercise price of $0.70 per Share for a period of 24 months from the date of closing. The offering was led by Cantor Fitzgerald Canada Corporation, as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters that included BMO Nesbitt Burns Inc., Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. Alliance Global Partners acted as financial advisors in connection with the offering.

Net proceeds from the offering are intended to fund growth of MediPharm’s Cannabis 2.0 product portfolio, expand medical products and Active Pharmaceutical Ingredient portfolio for export, pharmaceutical registrations, research and development related to clinical trial formulations, sales and marketing in new markets and for general corporate purposes, including funding working capital.

Aird & Berlis LLP represented MediPharm with a team that included Melanie Cole, Amy Marcen-Gaudaur, Meredith McCann (Capital Markets) and Barbara Worndl (Tax).

Areas of Expertise

Related Industries

Related Representative Matters

Representative Matters
Federal Court Dismisses Motion to Strike Judicial Review Application on Voluntary Disclosure Louise R. Summerhill and Monica Carinci Apr 22, 2022 On March 13, 2022, a prothonotary of the Federal Court of Canada dismissed the Crown’s motion to ... On March 13, 2022, a prothonotary of the Federal Court of Canada dismissed the Crown’s motion to strike the judicial review application of Milgram Foundation.
Representative Matters
Tax Court Allows Unclaimed Rebates for Tax Paid in Error to Subcontractors Louise R. Summerhill and Monica Carinci Apr 22, 2022 On March 17, 2022, The Tax Court of Canada allowed the GST/HST appeal of Mediclean Incorporated, ... On March 17, 2022, The Tax Court of Canada allowed the GST/HST appeal of Mediclean Incorporated, a professional cleaning service company that engages cleaners as subcontractors to provide these services.
Representative Matters
Allied Properties REIT Acquires Urban Office Portfolio for $794 Million Margaret T. Nelligan, Melanie Cole, Marek Lorenc, Amy Marcen-Gaudaur, Meredith McCann, Michael D. Smith, Leonard Baranek, J. Kyle Genga, Ethan Eisen, Rachel D. Rice, Barbara Worndl, Angelo Gentile and Aaron Collins Apr 06, 2022 On March 31, 2022, Allied Properties Real Estate Investment Trust, a leading operator of distinct... On March 31, 2022, Allied Properties Real Estate Investment Trust, a leading operator of distinctive urban workspace in Canada’s major cities and network-dense urban data centres in Toronto, completed the acquisition of six urban office properties from Choice Properties Real Estate Inv...