The firm expects to change its name from Rainmaker Resources Ltd to Indiva Ltd.
Inc () says its reverse takeover of Indiva Corp, which is a licensed medical cannabis producer, is expected to be completed on December 8 this year.
At the time of closing, the net proceeds of the subscription financing previously announced in June and August this year are expected to be released to the firm from escrow.
Just before that, the firm expects to complete a share consolidation and change its name from Rainmaker Resources Ltd to Indiva Ltd.
"We are very pleased to have exceeded our goal of raising $15-million with these two concurrent financings and to now be in a position to move forward with the expansion of our London facility to 40,000 square feet," said Niel Marotta, chief executive of Indiva in the regulatory statement.
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