SASKATOON, Dec. 30, 2016 /CNW/ – On December 29, 2016, CanniMed Therapeutics Inc. (“CanniMed“) completed an initial public offering of its common shares and became a reporting issuer. As of such date, Golden Opportunities Fund Inc. (the “Fund“) owns and controls 3,684,128 common shares (the “shares“), 29,092 common share purchase warrants (the “warrants“) and $1,620,000 convertible debentures (the “debentures“) of CanniMed.
The Fund owns and controls 3,684,128 shares representing approximately 18.57% of the issued and outstanding common shares of CanniMed on a non-diluted basis, 29,092 warrants exercisable into 29,092 common shares at a price of $5.50 per share and $1,620,000 debentures convertible into 294,544 shares of CanniMed at a price of $5.50 per share.
Assuming exercise of the warrants and the conversion of the debentures, the Fund would own and control 4,007,764 common shares of CanniMed representing approximately 20.01% of the issued and outstanding shares on a fully diluted basis.
Mr. Doug Banzet owns and controls for the benefit of the Fund options to purchase 12,532 shares of CanniMed, exercisable at a price of $1.68 per share for 7,200 options that expire on October 31, 2018 and $4.6825 per share for 5,332 options that expire on October 31, 2018. These options were acquired as an option-based award for Mr. Banzet’s service on the Board of Directors of CanniMed.
About Golden Opportunities Fund Inc.
Golden Opportunities Fund is a retail venture capital fund launched as the first in the Province of Saskatchewan in 1999. The Fund is managed by Westcap Mgt. Ltd. Since its inception, the Fund has invested almost $341 million in 127 companies and has more than 28,000 shareholders.
SOURCE Golden Opportunities Fund Inc.