CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Closes $6M Private Placement Agreement

Company: InMed Pharmaceuticals Inc. (INM)
Category: News

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development and manufacturing of rare cannabinoids, has closed on a private placement agreement with two healthcare-focused institutional investors. The agreement consisted of the issue and sale of 691,245 of INM common shares prices at $8.68 per share (or prefunded warrant in lieu thereof), totaling approximately $6 million. According to the announcement, INM also issued unregistered preferred investment options allowing the investors to purchase up to 1,382,490 additional common shares. The company observed that the unregistered investment options issued are exercisable upon issuance at an exercise price of $8.44 per share with an expiration date of seven years from the date of issuance. Worth noting is that one investor in the private placement will cancel preferred investment options in order to purchase up to 412,331 common shares of the company, which were previously issued to the investor. InMed anticipates using the net proceeds from the private placement to continue pipeline development of its pharmaceutical drug candidates as well as to advance manufacturing know-how of cannabinoids and cannabinoid analogs and support intellectual property development and other commercial activities along with general working capital purposes. The announcement noted that H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

To view the full press release, visit https://cnw.fm/09C6x

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs.  We also have significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.InMedPharma.com.  

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.canadiancannabiswire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.canadiancannabiswire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

CanadianCannabisWire is part of the InvestorBrandNetwork.

CanadianCannabisWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 905.674.5977