02:38:06 EST Thu 22 Feb 2024
Enter Symbol
or Name

Delta 9 Cannabis Inc
Symbol DN
Shares Issued 149,166,482
Close 2022-12-06 C$ 0.10
Market Cap C$ 14,916,648
Recent Sedar Documents

Delta 9 arranges $5-million at-the-market offering

2022-12-06 19:28 ET - News Release

Mr. Ian Chadsey reports


Delta 9 Cannabis Inc. has established an at-the-market equity program (ATM program) that allows the company to issue up to $5-million of common shares in the capital of the company from treasury to the public from time to time, at the company's discretion.

Distributions of the common shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated Dec. 6, 2022, between the company and Haywood Securities Inc.

Pursuant to the equity distribution agreement, the common shares may be offered and sold by the agent: (a) in privately negotiated transactions with the consent of the company and, if required, by the Toronto Stock Exchange (TSX); (b) as block transactions; (c) by the agent, on the TSX or on any other marketplace (as such term is defined in National Instrument 21-101 -- Marketplace Operation) in Canada; or (d) by any method permitted by law that constitutes an at-the-market distribution under National Instrument 44-102 -- Shelf Distributions.

The volume and timing of distributions under the ATM program, if any, will be determined in the company's sole discretion. The ATM program will be effective until the earlier of the issuance and sale of all of the common shares issuable pursuant to the ATM program and Oct. 9, 2023, unless terminated prior to such date by the company or the agent. As common shares sold in the ATM program will be issued and sold at the prevailing market price at the time of the sale, prices may vary among purchasers during the period of the distribution. The company expects to use the net proceeds from the ATM program for general corporate purposes and working capital needs.

The offering under the ATM program will be made pursuant to a prospectus supplement dated Dec. 6, 2022, to the company's final amended and restated short form base shelf prospectus dated Nov. 25, 2022, for the provinces of Canada, except Quebec, and the company's final base shelf prospectus dated Nov. 25, 2022, for Quebec and the territories of Canada.

The prospectus supplement, the base shelf prospectus and the equity distribution agreement are available on the SEDAR website maintained by the Canadian Securities Administrators on SEDAR.

Alternatively, the agent will send copies of the prospectus supplement, the base shelf prospectus and equity distribution agreement, as applicable, upon request to Haywood Securities Inc., 700 200 Burrard St., Vancouver, B.C., V6C 3L6, or by telephone at 604-697-7126 or by e-mail.

About Delta 9 Cannabis Inc.

Delta 9 Cannabis is a vertically integrated cannabis company focused on bringing the highest-quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels, and sells its cannabis grow pods to other businesses. Delta 9's wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis, and operates an 80,000-square-foot production facility in Winnipeg, Man., Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 cannabis store brand. Delta 9's shares trade on the Toronto Stock Exchange under the symbol DN and on the OTCQX under the symbol DLTNF.

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