GTEC Holdings Ltd., (TSXV: GTEC), a leading publicly listed cannabis company holding cultivation, extraction, and analytical testing licenses throughout Canada, closed the second tranche of a $12.5 million private placement offering led by Sprott Capital Partners LP. As part of the second tranche, GTEC issued 11,582,869 units (each a “Unit” and together, the "Units”) at a price of $0.55 per Unit for gross proceeds of $6,370,577.95. The Company closed the first tranche of the private placement on February 28, 2019, by issuing 11,126,753 Units of the Company for gross proceeds of $6,119,714.15. In total, the Company has issued 22,709,622 Units for gross proceeds of $12,490,292 through the first and second tranches.
Minden Gross LLP acted for GTEC Holdings Ltd., with a team lead by Andrew Elbaz (Partner, Securities & Capital Markets) and Alex Katznelson (Associate, Securities & Capital Markets).