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Jan 7, 2022

Nextleaf Solutions Ltd. Closes $3.1 Million Best Efforts Equity Financing

Melanie Cole, Amy Marcen-Gaudaur, Meredith McCann, Christian Nianiaris, Barbara Worndl and Robert Santia

On December 21, 2021, Nextleaf Solutions Ltd., a federally regulated producer of cannabis oil that distributes cannabis vapes and oils under its prohibition-era brand, Glacial GoldTM, completed a marketed public offering of units for total gross proceeds of $3,168,841.60.

Nextleaf completed the offering through the issuance of units, which included the full exercise of the agent’s over-allotment option at a price of $0.20 per unit. Each unit was comprised of one common share in the capital of Nextleaf and one common share purchase warrant. Each warrant is exercisable to acquire one share at an exercise price of $0.275 per share until December 22, 2023. Research Capital Corporation acted as sole agent and bookrunner.

Net proceeds from the offering are intended to be used by Nextleaf for the procurement and delivery of its cannabis products to various provincial markets nationally; the partial repayment of principal and interest on a senior secured convertible note of Nextleaf; general and administrative expenses; and working capital and general corporate purposes.

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

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