Manatt’s Thomas Poletti, a partner in the firm’s capital markets group, represented Alliance Global Partners in a $15 million private placement of Senior Secured Convertible Notes deal with investors in LiveWell Canada, Inc. The firm also assisted the company in a private placement of equity units with retail investors, a deal valued at $1.7 million Canadian dollars.
LiveWell is a Canadian health and wellness company focused on the advanced research of CBD and other cannabinoids. The company announced in December 2018 that they would merge with Vitality CBD Natural Health Products Inc., one of the largest industrial hemp cultivation and extraction operations in North America. Alliance Global Partners acted as exclusive placement agent and financial advisor on the private placement.
The proceeds from these two deals will be used to enhance production at an extraction facility in Eureka, Montana, to retrofit a facility in Las Cruces, New Mexico and for general corporate purposes.