Scythian Biosciences Corp. (TSXV:SCYB) announced a private placement of up to 537,700 units at a price of CAD 18.60 per unit for gross proceeds of approximately CAD 10,001,220 on January 17, 2018. Each unit will be comprised of one common share of the company and one common share purchase warrant.

Each warrant will entitle the holder thereof to purchase one share at a price of CAD 22 for a period of 24 months following the closing date. The transaction will include participation from Aphria Inc. (TSX:APH). The transaction is expected to close on or about February 8, 2018.

The transaction is subjected to all necessary approvals including the approval of the TSX Venture Exchange.