Grunewahl Organics Inc. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of up to 40,000,000 units at $0.10 per unit for gross proceeds of up to $4 million.
Grunewahl Organics has applied to list its shares and warrants on the Canadian Securities Exchange (CSE).
Leede Jones Gable Inc. acts as exclusive agent for the offering. Burstall Winger Zammit LLP and Burnet Duckworth & Palmer LLP act as legal counsel to Grunewahl Organics and the agent respectively.
Incorporated on January 26, 2017 as Grünerberg Cannabis Ltd., Grunewahl Organics Inc.’s primary objective is to produce and sell medical marijuana, including dried cannabis and Cannabis oil, as a Licensed Producer under the provisions of the ACMPR.
Grunewahl Organics currently has 19,259,993 common shares outstanding. The company has raised $916,000 since its inception.
Principal shareholders include President and director Curtis Leifso (2,540,000 share, 13.18% ) and Joel Manorek (2,040,000, 10.59%)