Bedrocan Canada Inc. Closes $4.4M Private Placement Offering: Fully Funded for Growth
April 7, 2014
Bedrocan Canada Inc., ("Bedrocan Canada" or the "Company") a leading provider of medicinal cannabis, announced today the closing of a private placement (the "Offering") which raised gross proceeds of $4,400,000. The closing of the Offering occurred April 4, 2014. The Offering was successfully completed by PowerOne Capital Markets Limited.
Bedrocan Canada is a Toronto-based private company licensed under Health Canada's Marihuana for Medical Purposes Regulations (MMPR). The Company has partnered with Bedrocan BV of the Netherlands which has been producing pharmaceutical quality medicinal cannabis sold in European pharmacies since 2003 and is the exclusive provider of medicinal cannabis to the Dutch national program since 2001. Bedrocan BV currently is the sole provider of medicinal cannabis to a number of European countries since 2006. Bedrocan cannabis is the only medicinal cannabis in the world that is shipped across international borders.
Bedrocan Canada, a market leader, began shipping orders nationwide in February 2014, delivering Bedrocan's five standardized varieties, including Bedrolite, the first Cannabidiol/CBD-dominant variety available in the Canadian market.
Marc Wayne, CEO of Bedrocan Canada stated, "As a result of this offering, we are fully funded and well positioned to meet the growing demand for Bedrocan products from patients in Canada. We expect to produce the same high quality standardized Bedrocan varieties from a second facility, currently under development."
Bedrocan is a global leader in cannabis research. The Company's management has extensive knowledge and experience in the use of cannabis and cannabinoids in clinical practice.
Bedrocan Canada and Bedrocan BV strive to develop and deliver the full medical potential of the cannabis plant to those in need worldwide. The Company is committed to the standardized production of medicinal cannabis, safe clinical practices, regulatory compliance and transparent communication with all its stakeholders to improve the quality of life for its customers.
For further information about Bedrocan Canada Inc., please visit www.bedrocan.ca.