Maven Brands - CEO, Darcy Bomford.
CEO, Darcy Bomford.
Source: Maven Brands.
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  • Maven Brands (MJ), formerly True Leaf Brands, has announced a C$1.5 million private placement
  • The company will use the proceeds to install packaging lines and microbial remediation equipment, as well as for the purchase of craft cannabis flower
  • The offering, which may involve one or more tranches, is scheduled to close on or before December 6, 2021
  • Maven Brands is a licensed cannabis producer preparing to launch a program to provide path-to-market services for micro-cultivators
  • Maven Brands (MJ) is down by 10.42 per cent and is currently trading at $0.215 per share

Maven Brands (MJ), formerly True Leaf Brands, has announced a C$1.5 million private placement.

The company will offer up to 8,333,334 units priced at $0.18 per unit.

Each unit consists of one common share and one-half of one warrant.

Each warrant is exercisable to purchase one additional common share for $0.27 for two years from the warrant’s issuance date, subject to acceleration.

The company intends to use the proceeds from the non-brokered financing for general corporate purposes, as well as for the launch of its craft cannabis processing program, including:

  • Installing craft-compliant packaging lines
  • Installing microbial remediation equipment
  • Purchasing craft cannabis flower inputs for product development

The offering, which may involve one or more tranches, is scheduled to close on or before December 6, 2021.

Maven Brands is a licensed cannabis producer preparing to launch a program to provide path-to-market services for micro-cultivators. The program will operate from the company’s 19,500-square-foot facility in Lumby, British Columbia. 

Maven Brands (MJ) is down by 10.42 per cent and is currently trading at $0.215 per share as of 11:15 am ET.

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