CannaRoyalty arranges $15-million bought deal $CRZ

CannaRoyalty Corp (C:CRZ) $CRZ   (FROM:

Shares Issued 36,006,956
Last Close 1/19/2017 $3.13
Thursday January 19 2017 – News Release

Ms. Nancy White reports


CannaRoyalty Corp. has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., pursuant to which the underwriters have agreed to purchase, on a bought deal basis, pursuant to the filing of a short form prospectus, an aggregate of units at a price of $3 per unit for aggregate gross proceeds to CannaRoyalty of $15-million.

Each unit will comprise one common share of the company and one-half of one common share purchase warrant. Each warrant will be exercisable to acquire one common share for a period of two years following the closing date of the offering at an exercise price of $4.50 per warrant share. The warrants will be subject to a 21-day forced exercise provision if the company’s daily volume-weighted average share price is greater than $6 for 15 consecutive trading days.

The units will be offered by way of a short form prospectus to be filed in all provinces of Canada, except Quebec. The company intends to use the net proceeds from the offering for acquisitions, continued financing of the development of its existing holdings, and general corporate and working capital purposes. The offering is expected to close on Feb. 15, 2017, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

In connection with the offering, KES 7 Capital Inc. has been appointed as a special adviser to the company.

About CannaRoyalty

CannaRoyalty is a fully integrated, active investor and operator in the legal cannabis sector.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd.

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