Company or
Ikänik Farms ) is pleased to announce that it has set has set USD$1.021 as the exercise price (the
Issue
Price ) for the issuance of 29,394,474 subordinate voting shares of the Company (the
Shares ) for gross proceeds of USD$30,000,000 pursuant to the terms of the subscription agreement dated March 8, 2021 (the
Subscription Agreement ), entered into between Global Garden Private Equity I, S.A.R.L. (
Global Garden ) and a predecessor of the Company prior to completion of its reverse take-over transaction completed on March 30, 2021. The Issue Price was determined pursuant to the Subscription Agreement, being 90% of the volume weighted average price per Share of the Company s Shares trading on the Canadian Securities Exchange during the most recent (10) consecutive trading days. The Company anticipates the issuance of the Shares will be completed on or about May 10, 2021.
Ikänik Farms Triggers $30 Million Self-Directed, Non-Brokered Private Placement with European Private Equity Group
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