Scientus Pharma completes $15.8-million private placement

Closely-held Scientus Pharma has completed a private placement of common shares at a price of $4 each for gross proceeds of approximately $15.8-million. 

Net proceeds will be used for working capital and general corporate purposes.

GMP Securities acted as sole agent for the offering, which was conducted on a fully marketed, best effortsagency basis.

Scientusis a vertically-integrated biopharmaceutical Licensed Dealer under the Narcotics Control Regulations of Canada which conducts fundamental research on cannabinoids (genetic, bio molecular, etc.) with a focus on developing and commercializing pharmaceutical-grade cannabinoid derivative products. Scientus is also a Licensed Producer (Cultivation) under the Access to Cannabis for Medical Purposes Regulations (ACMPR).

Michelle Carr