Nova Cannabis Inc. (OTCQB:NVACF) (TSX:NOVC) has filed a preliminary short-form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada.
The base shelf prospectus will, when made final, allow Nova and certain of its security holders to qualify the distribution by way of prospectus in Canada of up to $35 million of common shares, subscription receipts, warrants, debt securities, units or any combination thereof, during the 25month period that the base shelf prospectus is effective. The base shelf prospectus is intended to provide Nova with financing flexibility and additional options for quicker access to equity and/or debt markets as it continues to pursue its strategic plan.
