Israeli Pot Firm Breath of Life Delays IPO Until Market Improves
- Medical cannabis company planned to raise C$150m in Toronto
- CEO says ‘when market is ready to be bullish, we’ll go ahead’
This article is for subscribers only.
Breath of Life International Ltd., an Israeli medical cannabis company, has shelved its planned initial public offering on the Toronto Stock Exchange until market conditions improve, according to its chief executive officer.
Breath of Life had planned to raise approximately C$150 million ($113 million) through a public share offering priced at C$27 to C$32 a share, according to a June presentation to bankers. The company said it had revenue of $3.5 million in 2018 and $1.1 million in the first quarter of 2019.