For the three-months ended March 31, 2019, Novus reported a net loss of $4.9 million, or $0.52 per share, compared to a net loss of $2.8 million, or $0.36 per share, for the same period in 2018.
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ICC will permit Organic Flower unbridled access to its European distribution network comprised of 80,000 retail outlets and pharmacies, as well as grant Organic Flower commercial rights for cannabis processing/finishing at its EU-GMP certified facilities.
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Novus also issued unregistered warrants to purchase up to 6,898,224 shares of common stock. The warrants were issued in two tranches.
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The closing of the offering is expected to occur on or about May 2, 2019, subject to the satisfaction of customary closing conditions.
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