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MTL Cannabis ( (TSE:MTLC) ) has shared an update.
MTL Cannabis Corp. has successfully closed a $2 million brokered offering led by Centurion One Capital, selling 3,147,999 units at $0.65 each. The company strategically opted for a smaller financing than initially targeted, focusing on long-term investors aligned with its growth plans. The proceeds will be used for capital expenditures and marketing initiatives, with insider participation constituting a related party transaction under MI 61-101.
More about MTL Cannabis
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc., a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe Claire, Québec. It also owns Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace, and IsoCanMed Inc., a licensed producer in Louiseville, Québec.
YTD Price Performance: 131.03%
Average Trading Volume: 31,974
Technical Sentiment Signal: Buy
Current Market Cap: C$78.39M
Find detailed analytics on MTLC stock on TipRanks’ Stock Analysis page.