- True Leaf Brands Inc. (MJ) has closed a non-brokered private placement to raise gross proceeds of C$1,534,479 through the sale of 4,262,436 common shares
- All shares issued are subject to a four-month hold period from the date of issuance
- Proceeds will be used to pay down existing liabilities, general working capital purposes and to finance True Leaf’s program to support micro-cultivators and small-scale processors
- True Leafs’s program to provide seed-to-shelf solutions will provide a full suite of in-house production, processing, and packaging services to the burgeoning craft cannabis community
- True Leaf Brands Inc. (MJ) is flat at C$0.61 per share at 3:30 pm EST
True Leaf Brands Inc. (MJ) has closed a non-brokered private placement.
The offering raised gross proceeds of C$1,534,479 through the sale of 4,262,436 common shares priced at C$0.36 per share, 53% more than the original $1,000,000 target.
All shares issued are subject to a four-month hold period from the date of issuance.
Proceeds will be used to pay down existing liabilities, general working capital purposes, and to initiate the company’s strategic plan to become a leading provider of seed-to-shelf solutions for micro-cultivators and small-scale cannabis processors in Canada.
“True Leaf is proud to have strong investor support for our strategic plan and mission to support the craft cannabis community with a better route to market,” said CEO Darcy Bomford. “This successful raise will allow us to prepare our True Leaf Campus facility to advance this initiative.”
The company paid finder’s fees of $104,899.98.
True Leaf, a licensed producer of cannabis, is preparing to launch a program to provide seed-to-shelf solutions for micro-cultivators and small-scale processors.
The program will provide a full suite of in-house production, processing, and packaging services to the burgeoning craft cannabis community.
True Leaf Brands Inc. (MJ) is flat at C$0.61 per share at 3:30 pm EST.
