Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Vertically integrated cannabis company Aleafia Health Inc. (TSX:AH) (OTCQX:ALEAF) is poised to raise up to $30 million through the newly established at-the-market equity program.
The Toronto-based company is looking to sell its common shares to the public from time to time, at the prevailing market price when issued on the Toronto Stock Exchange.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Cantor Fitzgerald Canada Corporation was named sole agent.
The sale of the company’s common shares through the ATM program is effective until June 20, 2023.
Aleafia said it will utilize the proceeds to fund growth opportunities and working capital initiatives.
The company already raised some $22.7 million earlier this year via the bought deal offering of its 27.39 million units at 83 cents per unit.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
The move comes on the heels of the company's latest earnings report which revealed a 51% year-over-year revenue drop to $7.07 million in the first quarter of 2021 and an 83% year-over-year spike in net loss, which totaled $11.25 million.
Aleafia's 2021 Highlights
Over the past few months, Aleafia has been strengthening its presence in Canada as well as internationally.
The company kicked off 2021 by announcing the expansion of its global distribution network through a three-year deal with Apipharm Veletrgovina d.o.o. It agreed to supply the Europe-based pharmaceutical producer and distributor with dried cannabis flower.
To wrap up January, Aleafia teamed up with trade union Unifor to “support union members, retirees and their eligible dependents who receive medical cannabis insurance coverage through Unifor’s collective bargaining agreements.”
The company opted to support union members and their families via its network of medical cannabis clinics, products, and scheduled same-day delivery, Aleafia CEO Geoffrey Benic explained earlier.
In April, Aleafia introduced Divvy, a new everyday cannabis brand, and part of its new house of brands, Sunday Market. The brand portfolio consists of five dried flower and pre-roll SKUs.
Photo by Jhon David on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.