CHRYSTAL Capital Partners LLP, Europe’s leading cannabis corporate finance and investment house, is pleased to announce that it has acted as European Capital Markets adviser to Yooma Wellness Inc. (CSE and AQSE: YOOM) , a global vertically-integrated wellness platform that develops and markets a portfolio of CBD and wellness brands, on a £7.5m financing concurrent to a UK dual-listing on the Aquis Stock Exchange Growth Market (AQSE Growth Market).
Common Shares will commence trading on the AQSE Growth Market at 8 am BST today (Tuesday August 10) under the ticker YOOM. For each subscribed placing share at 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.
Yooma is the first North American Cannabis company to dual-list in London. The financing is the largest ever capital raise for a cannabis company on Aquis and the fourth largest Aquis financing in 2021.
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 £5m gross proceeds for the Yooma if exercised, which would bring the total amount raised in the financing to £12.5m.
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 £5m.
The fundraise also attracted strong support from the UK’s leading institutional cannabis investor, AIM-quoted investment company Seed Innovations Ltd, (SEED) alongside other UK institutional investors, professional family offices and ultra-high-net-worth individuals.
Completion of this financing will allow Yooma to focus on building the world’s largest CBD and wellness business. Yooma will use the proceeds to finance the cash portion of several strategic acquisitions and for other general corporate purposes.
Tristan Gervais, Head of Chrystal Capital Cannabis Advisory, (“CCCA”) said: “We are delighted to have advised Yooma on its successful, fundraise. This is the 4th Cannabis deal that CCCA has closed in the last eight months. Our unique cannabis sector expertise, together with our extensive relationships with cannabis investors, continues to deliver much-needed growth capital to this exciting, fast growing industry. CCCA will continue to work closely with the management team as Yooma continues to grow.”
Lorne Abony, Chairman of Yooma, said: “We are pleased to have completed this financing and UK dual-list, including the addition of many UK and European based shareholders, which will allow Yooma to continue its rapid growth through strategic acquisitions. Once the Option has been exercised the financing will be oversubscribed which will accelerate Yooma’s growth and quest to become a global leader in the CBD and wellness space. Chrystal has played a critical role in raising the capital from their unique network of European cannabis investors.”
About Chrystal Capital Cannabis Advisory
CCCA is the only dedicated Cannabis Corporate Finance advisory team in Europe. CCCA’s team has closed 17 cannabis deals for 9 companies in the last 5 years, advising and raising on US$459m of transactions in the legal pharmaceutical, medical, wellness and cannabis sub-sectors across Europe, North America and Latin America. CCCA is actively advising clients across numerous Investment Banking product areas including IPOs, dual-lists, private capital raises and M&A Advisory.
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.