Avicanna Inc. (TSX:AVCN) (OTCQX:AVCNF) (FSE: 0NN), a commercial-stage, international biopharmaceutical company focused on the development advancement and commercialization of cannabinoid-based products, has closed a non-brokered private placement offering of 7,210,194 units at a price of C$0.35 ($0.28) per Unit, for aggregate gross proceeds of approximately C$2.5 million.
Each Unit is comprised of one common share and one-half of one (0.5) common share purchase warrant of, which shall entitle the holder to acquire 1 common share at an exercise price of C$0.40 per share, subject to adjustment in certain events, until March 31, 2025.
