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  • BC Craft Supply Co. Ltd. (CRFT) has closed a private placement for proceeds of C$500,000
  • The company has issued 6,095,238 units at $0.084 per unit
  • BC Craft Supply has issued 1,562,000 common shares to Mr. Petrov pursuant to his appointment to the company’s advisory board
  • Proceeds from the private placement will be used for general working capital
  • BC Craft Supply Co. Ltd. (CRFT) is up 7.69 per cent, trading at $0.07 per share at 2 pm ET

BC Craft Supply (CRFT) has closed a private placement with Mr. Daniel Petrov for proceeds of C$500,000.

The company has issued 6,095,238 units at $0.084 per unit. Each unit includes one common share and one-half common share purchase warrant

Each warrant is exercisable to acquire one additional common share for a period of 24 months from closing at $0.126 per share.

Proceeds from the private placement will be used for general working capital.

BC Craft Supply has issued 1,562,000 common shares to Mr. Petrov pursuant to his appointment to the company’s advisory board. The shares will vest over a period of 12 months in accordance with the terms of Mr. Petrov’s advisory board agreement.

All securities issued are subject to a hold period of four months and one day.

Daniel Petrov stated,

"I am excited to offer my expertise and provide insight and advice to BC Craft and its US expansion. BC Craft is poised to be highly competitive in Canada and Biden’s USA.”

Matthew Watters, CEO of BC Craft stated,

“We are thrilled to have Daniel’s support in the next chapter of craft cannabis and BC Craft's expansion into the US market. Our management philosophy supports long-term, relational business (rather than the type of short-term transactional business that has proven harmful to the cannabis industry). We have commenced on an incredibly valuable advisory relationship with Daniel that will help us expand in Canada, the USA and foreign markets.”

A leader in the cannabis market, BC Craft Supply Co. has aggregated the best legacy-era talent from Canada's craft cannabis industry, which boasts an international reputation. 

BC Craft’s subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada.

BC Craft Supply Co. Ltd. (CRFT) is up 7.69 per cent, trading at $0.07 per share at 2 pm ET.

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