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INDIVA Corporation closes first tranche of private placement for gross proceeds of $5.75 million

Aug 29, 2017

In connection with a proposed amalgamation with Rainmaker Resources Ltd. and listing on the TSX Ventures Exchange, INDIVA Corporation, a licensed producer of medical grade cannabis, and Rainmaker completed the first tranche of a planned private placement of up to $15 million of subscription receipts. In the first tranche, Rainmaker issued 7,674,609 Subscription Receipts at a price of $0.75 per Subscription Receipt for aggregate gross proceeds of $5,755,956.75. Minden Gross LLP acted for Sunel Securities Inc. as lead agent for the financing with a team that included Andrew Elbaz (Partner) – Securities/Capital ​MarketsAlexandra (Sasha) Toten (Associate) – Securities/Capital Markets; and Matt Maurer (Chair) - Cannabis Law Group.