On February 19, 2020, Greenlane Renewables Inc., a leading global provider of biogas upgrading systems that are helping decarbonize natural gas, completed an overnight marketed public offering of 23,000,000 units of Greenlane, including 3,000,000 Units issued pursuant to the underwriters’ full exercise of their over-allotment option, at a price of $0.50 per Unit for gross proceeds to Greenlane of $11,500,000.
Each Unit was comprised of one common share of Greenlane and one-half of one common share purchase warrant (each full common share purchase warrant, a ""Warrant""). Each Warrant entitles the holder to purchase one additional common share of Greenlane at an exercise price of $0.70 per common share for a one-year period ending February 19, 2021. Greenlane also issued compensation options to the underwriters entitling them to purchase an aggregate of 1,380,000 common shares at a price of $0.50 per common share for a one-year period following closing.
The Offering was made by way of a prospectus supplement dated February 11 2020 which relates to Greenlane’s base shelf prospectus dated July 31, 2019 and was conducted by a syndicate of underwriters led by Beacon Securities Inc. and including Canaccord Genuity Corp., Haywood Securities Inc. and Paradigm Capital Inc.
Fasken advised Beacon and the other Underwriters with a team that included Krisztian Toth, Matt Downer, Jake Woloshyn (corporate/securities) and Mitchell Thaw (tax).
Each Unit was comprised of one common share of Greenlane and one-half of one common share purchase warrant (each full common share purchase warrant, a ""Warrant""). Each Warrant entitles the holder to purchase one additional common share of Greenlane at an exercise price of $0.70 per common share for a one-year period ending February 19, 2021. Greenlane also issued compensation options to the underwriters entitling them to purchase an aggregate of 1,380,000 common shares at a price of $0.50 per common share for a one-year period following closing.
The Offering was made by way of a prospectus supplement dated February 11 2020 which relates to Greenlane’s base shelf prospectus dated July 31, 2019 and was conducted by a syndicate of underwriters led by Beacon Securities Inc. and including Canaccord Genuity Corp., Haywood Securities Inc. and Paradigm Capital Inc.
Fasken advised Beacon and the other Underwriters with a team that included Krisztian Toth, Matt Downer, Jake Woloshyn (corporate/securities) and Mitchell Thaw (tax).
