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MTL Cannabis ( (TSE:MTLC) ) has issued an update.
MTL Cannabis Corp. has successfully closed a $2 million brokered LIFE offering led by Centurion One Capital. The funds raised will be used for capital expenditures and marketing initiatives, potentially enhancing the company’s market presence and operational capabilities. The offering involved the sale of over 3 million units, each comprising a common share and a warrant, with insiders participating in the transaction. This strategic financial move is expected to bolster MTL Cannabis’s industry positioning and support its growth objectives.
More about MTL Cannabis
MTL Cannabis Corp. is a prominent player in the cannabis industry, operating through several subsidiaries including Montréal Medical Cannabis Inc., Abba Medix Corp., IsoCanMed Inc., and Canada House Clinics Inc. The company focuses on producing craft quality cannabis products such as dried flower, pre-rolls, and hash, marketed under various brands for the Canadian market. MTL Cannabis utilizes proprietary hydroponic growing techniques and has established multiple distribution arrangements across Canada, along with export channels for bulk cannabis.
Average Trading Volume: 31,974
Technical Sentiment Signal: Buy
Current Market Cap: C$74.88M
See more data about MTLC stock on TipRanks’ Stock Analysis page.