Dosist

Canaccord Genuity acts as exclusive agent & financial advisor to dosist™ on a private placement of up to $30 million

Canaccord Genuity is pleased to announce that on October 27, 2020, its client dosist™ (the “Company”) announced the successful closing of a private placement of up to $30 million by Turning Point Brands, Inc. (“TPB”) (NYSE:TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients. dosist received a $15 million upfront strategic investment and entered into an exclusive co-development and distribution agreement of a new national CBD brand with TPB, created in partnership with dosist’s THC-free business unit. Additionally, TPB has an option to invest another $15 million at pre-determined terms within the next 12 months.

The proceeds of TPB’s investment are being used by dosist’s THC-free and Canadian business units and cannot be used in connection with or for any cannabis or cannabis-related operations in the United States, unless and until such operations comply with all applicable laws of the United States. TPB has been issued a warrant to receive preferred shares of dosist that will automatically be exercised upon a change in federal laws in the United States to reschedule or deschedule cannabis and/or permit its general cultivation, distribution and possession. As part of this agreement, TPB will also have an option to fill a seat on the board of directors of dosist upon legalization.

dosist™ is a pre-eminent and globally recognized cannabis brand through its award-winning innovations (Time Magazine, Fast Company, Bloomberg), and superior marketing prowess. The renowned dosist product portfolio, including its internationally patented dose-control inhalation technology, delivers scientifically engineered formulations targeting key human need states. dosist formulas offer consumers a complete range of solutions, starting with its core line featuring balanced ratios of CBD to THC, and their THC-plus line, a collection of high potency formulas designed for targeted THC-forward experiences.

The Canaccord Genuity team consisted of Tom Pollard and Tiffany Loh from Investment Banking, and Jen Pardi, Brian O’Connor, Mike Wright, and Brooke Szczygiel from Equity Capital Markets.