Zenabis Global’s (TSX:ZENA) rights offering was over-subscribed, resulting in the issuance of a maximum of 139,086,624 common shares at a price of 15 cents each for gross proceeds of about $20.8-million.
The company is working with its transfer agent to calculate the amounts exercised under the basic subscription privilege and the additional subscription privilege in connection with the rights offering.
“Zenabis is grateful for the support shown by its shareholders in this over-subscribed rights offering by both the public market and insiders,” Andrew Grieve, CEO, said in a statement. “To see an over-subscribed rights offering is a strong vote of confidence from the market.”
