Source: Plant & Co. Brands Ltd.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Plant&Co. Brands (VEGN) has closed the second tranche of its non-brokered private placement of unsecured convertible debentures for gross proceeds of $705,000
  • The company raised a combined total of $2,000,000 under the two tranches
  • Each debenture has a principal amount of $1,000, a 24-month term, earning interest at the rate of twelve per cent annually payable quarterly after the closing date
  • When it matures, any outstanding principal amount of the debentures, plus any accrued and unpaid interest, shall be paid in cash
  • Plant&Co. Brands Ltd. is a modern health and wellness company curating delicious plant-based foods
  • Plant & Co. Brands Ltd (VEGN) opened trading at $0.14

Plant&Co. Brands (VEGN) has closed the second tranche of its non-brokered private placement of unsecured convertible debentures for gross proceeds of $705,000.

The company raised $1,295,000 under the first tranche, bringing the aggregate total to $2,000,000.

“In an overwhelming show of support from our current shareholders, new retail investors and first-time institutional investors, I am excited to share the news of our second tranche closing of an oversubscribed placement,” said Shawn Moniz, CEO of Plant&Co.

“In a time where the capital markets are subject to an increasing level of predatory lenders and unfavourable terms leading to shareholder dilution, Plant&Co has delivered increased shareholder value through its accretive and EBITDA positive M&A’s, organic and inorganic execution of growth which has allowed us to raise capital on very favourable terms that puts the preservation of shareholder value at its forefront,” he added.

Each debenture has a principal amount of $1,000, a 24-month term, earning interest at the rate of twelve per cent annually payable quarterly after the closing date.

When it matures, any outstanding principal amount of the debentures, plus any accrued and unpaid interest, shall be paid in cash.

Plant&Co. Brands Ltd. is a modern health and wellness company curating delicious plant-based foods.

Plant & Co. Brands Ltd. (VEGN) opened trading at $0.14.

More From The Market Herald

" Flow Beverage (TSX:FLOW) signs distribution agreement with Starbucks Canada

Flow Beverage (FLOW) has signed a distribution agreement with Starbucks Coffee Canada, Inc.

" Martinrea International (TSX:MRE) appoints Maureen Midgley as new Director

Martinrea International (MRE) announced the appointment of Maureen Midgley to its Board of Directors, effective January 1, 2023.

" The Gummy Project (CSE:GUMY) officially launches in the U.S. market

The Gummy Project (GUMY) has announced the launch of its products into the U.S. market through its eCommerce site.

" Else Nutrition (TSX:BABY) grows California retail reach in 2022

Else Nutrition Holdings (BABY) announced the addition of 150 retailers in Southern California in the second half of 2022.