The 1,679,000 warrants were issued in the final week of May and were each exercised into one common company share at C$0.75
Canntab Therapeutics Limited () () (FRA:TBF1), the biopharma focused on hard pill cannabis formulations, said it had received C$1,259,250 gross from the early exercise of warrants.
The 1,679,000 warrants were issued in the final week of May and were each exercised into one common company share at C$0.75.
READ: Canntab Therapeutics receives export license from Health Canada
The warrants had been set to expire in late February or early March of 2022.
"We are pleased to receive this vote of confidence from our longstanding loyal shareholders, who have voluntarily exercised their warrants long before expiry to further solidify the company's treasury as we continue to press forward on our sales, production and delivery of product. We would like to thank those shareholders that continue to believe and support Canntab," said Canntab's CEO Larry Latowsky in a statement.
In March 2021, Canntab Therapeutics said it has been granted an export license by Health Canada, meaning it could fulfill a $406,200 purchase order received from the Australian hemp and medical cannabis group Cann Global Limited () (FRA:54A).
The order was expected to be distributed throughout Australia to medical distributors including doctors, pharmacies, and hospitals, the company had said.
Canntab holds a cannabis standard processing and sales for medical purposes license, a cannabis research license, and an industrial hemp license from Health Canada.
Contact the author at giles@proactiveinvestors.com