Yooma Wellness Inc., a global vertically integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, is pleased to announce its common shares began trading on the Aquis Stock Exchange Growth Market (“AQSE”) at 8 am BST today. Shares are trading under the ticker YOOM. They will be dual-listed and continue to trade on the Canadian Securities Exchange under the ticker YOOM. The dual-listing is a market first for a North American cannabis company.
Yooma was admitted to the AQSE after raising gross proceeds of USD $10.3 million, or approximately GBP £7.5 million, through the placing of 14,250,522 Common Shares (“Placing Shares”), at a price of C$0.90 (£0.5232) per share (the “Placing Price”). Investors have been granted a half warrant (“Warrants”) exercisable at a price of C$1.35 (£0.7849) per share. Yooma has granted 7,125,249 Warrants in total, which will expire three years after listing on AQSE, as well as 232,220 non-transferrable warrants at $0.90/share with a two-year expiry to certain eligible persons who provided finance and investor introduction services in connection with the financing. Chrystal Capital Partners LLP, Europe’s leading cannabis corporate finance and investment house, acted as advisor to the Company on the capital raise.
The placing marks the 4th largest raise on Aquis this year and the largest ever capital raise for a cannabis company on the Aquis exchange.
“Yooma’s listing on the AQSE provides us with a solid foundation on which to execute our growth strategy in the U.K., Europe and beyond,” said Lorne Abony, Chairman of Yooma. “Our strategic focus on value accretive acquisitions throughout the world will help to solidify Yooma’s place as a global wellness leader.”
Yooma has also granted a single strategic investor (“Strategic Investor”) an option (“Option”) to acquire 9,555,555 Common Shares at the Placing Price, that will raise an additional £5.0 million gross proceeds for the Company if exercised, which would bring the total amount raised in the financing to USD $17.1 million (£12.5 million). Subject to exercise of the Option, the Strategic Investor will be granted 4,777,777 Warrants on the same basis as the other investors. The Option has been granted to September 17th, 2021, due to delays in the Strategic Investor setting up its proposed holding structure for the investment. Yooma is however satisfied that due diligence has been completed by such party and the additional time will allow administrative arrangements to be completed prior to an investment of £5.0 million.
Completion of this financing will allow Yooma to focus on building the world’s largest CBD and wellness business. The Company will use the proceeds to finance the cash portion of several strategic acquisitions and for other general corporate purposes. Additional details about the financing are set out in Yooma’s press release dated July 26, 2021.
The fundraise attracted strong support from the U.K.’s leading institutional cannabis investor, AIM-quoted investment company Seed Innovations Ltd., alongside other U.K. institutional investors, professional family offices and high-net-worth individuals.
About Yooma Wellness Inc.
Yooma’s mission is to build a vertically-integrated global leader in the manufacturing, marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) ingredients. The company leverages strategically curated sales channels and ecommerce networks to deliver a diverse mix of wellness products through operating subsidiaries in the United States, United Kingdom, France and Japan. Learn more at www.yooma.ca.