Dynaleo Inc. Completes $9.7 Million Oversubscribed Equity Financing
EDMONTON, Alberta -- Dynaleo Inc. (“Dynaleo”), an Edmonton, AB based manufacturer of cannabis-infused adult soft chews is pleased to announce that it has completed a non-brokered $9.7 million offering of class A common shares.
“We have raised over $25 million since our inception and we are grateful for the support from our investors that continue to see the tremendous opportunity that lies ahead of us,” said Executive Chairman Michael Krestell. “Completing this financing allows us to accelerate the growth of our Sunshower and DYNATHRIVE CBD cannabis-infused soft chews as we continue the rollout of these products across Canada. We are also discussing additional financing options with a number of organizations to further enhance our financial flexibility,” said Krestell.
Since obtaining its sales license in November 2020, Dynaleo has already successfully launched its Sunshower and DYNATHRIVE CBD soft chews in western Canada and continues to expand distribution across the country.
Krestell adds, “We are in a prime position to become the leader in edibles coast-to-coast by delivering consistent, delicious products for our loyal customers. Our main priority is to develop and manufacture products that consumers will deeply enjoy and trust, but behind the scenes, this requires complex supply chain management and the ability to navigate the highly regulated Canadian retail channel. Our recent financing provides us with all of the necessary liquidity to achieve our goals.”
Dynaleo is an Edmonton, Alberta-based licensed processor that is focused on manufacturing cannabis-infused adult soft-chews. Dynaleo's purpose-built manufacturing plant contains specialized production equipment to produce precisely dosed cannabinoid-infused edibles for the Canadian market. Dynaleo’s mission is to create the finest infused soft chews that enable consumers to enjoy cannabinoids without the negative health effects of inhalation.