Alchemist Mining Inc (CSE:AMS) said Thursday that it has closed the final tranche of its first-round, non-brokered private placement offering for total gross proceeds of C$905,900.
The cannabis industry technology company said in a statement that it will use the proceeds from the private placement toward the acquisition of a 100% interest in the Oddysee Software Platform and general working capital.
READ: Alchemist announces corporate rebranding as it shifts to cannabis technology from mining industry
For the second tranche of the first round, the cannabis industry technology company said it has allotted and issued 4,338,000 units at a price of C$0.05 per unit.
Each unit is composed of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the company for a period of up to 12 months at a price of C$0.075.
In December, the company announced that it was rebranding its corporate image as it made the transition to cannabis technology from the mining industry.
Contact Dennis Fitzgerald at [email protected]