INDIVA Limited Announces Increase in Bought Deal Offering to $13 Million

LONDON, ONTARIO--(Marketwired - Jan. 23, 2018) -

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INDIVA Limited (TSX VENTURE:NDVA) ("Indiva" or the "Company"), a federally-licensed producer of medical cannabis, is pleased to announce that it has entered into an amended letter of engagement with Eight Capital, under which Eight Capital has now agreed to purchase 12,381,000 units of the Company (the "Units"), on a "bought deal" basis, subject to all required regulatory approvals, at a price per Unit of $1.05 (the "Offering Price") for total proceeds of $13,000,050 (the "Offering"). Each Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $1.30 for a period of 24 months following the Closing Date. If, following the closing of the Offering, the volume weighted average price of the Common Shares on the TSX Venture Exchange is equal to or greater than $2.10 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

The Company has also agreed to grant Eight Capital an increased over-allotment option entitling Eight Capital to purchase up to an additional 15% of the Units at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering.

The closing date of the Offering is scheduled to be on or about February 13, 2018 and is subject to certain customary conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About INDIVA:

INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA's strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.

INDIVA's wholly owned subsidiary is a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulation ("ACMPR") with its first indoor cannabis production facility located in London, Ontario.