Numinus Wellness (TSXV: NUMI) evidently is seeing strong investor demand, with the psychedelics firm this morning announced a $10.0 million bought deal financing lead by Canaccord Genuity and Eight Capital. The financing is to see roughly 14.7 million units of the company sold.

Priced at $0.68 per unit, each unit is to contain one common share of the company along with a half purchase warrant. Each warrant is exercisable at a price of $0.90 per share for a period of two years from the date of issuance.

An over allotment option has also been granted to the underwriters, enabling up to $1.5 million in additional funds to be raised through the sale of 2.2 million more units. The over allotment option is valid for a period of thirty days from closing date.

Proceeds from the financing are said to be split across several items, including upgrading the firms existing lab and equipment to prepare for clinical trials, seeking approval for and commencing compassionate access trials, reviewing and completing potential acquisitions, facilitating R&D of medical protocols and standard operating procedures for psychedelic therapies, potentially build out the existing wellness centre, and finally general working capital purposes.

The financing is expected to close December 29, with the company indicating that it will look to list the associated warrants from trading on the TSX Venture.

Numinus Wellness last traded at $0.78 on the TSX Venture.

Information for this briefing was found via Sedar and Numinus Wellness. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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