Yooma Wellness Inc. Dual-Lists on the U.K.’s AQSE Growth Market

TORONTO,  Yooma Wellness Inc. (CSE: YOOM), 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 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, at a price of C$0.90 (£0.5232) per share. Investors have been granted a half warrant 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 an 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 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.

(This information is primarily sourced from Yooma Wellness Inc.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).