IGC Resources, Westleaf Cannabis close CA$20M raise, including Tilray investment

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Alberta marijuana companies IGC Resources (TSXV: IGC.H) and Westleaf Cannabis closed a brokered private placement of 20 million Canadian dollars ($15 million), including CA$2.9 million from British Columbia-based Tilray.

The capital raise was completed in connection with Westleaf’s proposed reverse takeover of IGC, which received conditional approval from the TSX Venture Exchange.

The company plans to use the proceeds to support expansion and general corporate purposes.

More details about the deal can be found here.