logo-loader
Crop Infrastructure Corp.

Crop Infrastructure announces up to C$4M convertible debenture offering by the cannabis company

Under the offering, each unit will be made up of C$1,000 in principal amount of senior secured convertible debenture and one share purchase warrant per C$0.30 of principal amount

A marijuana plant
Projects include cultivation properties in California and Washington State

Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) announced its plan to raise as much as C$4 million in a senior secured convertible debenture offering.

The cannabis branding and real estate asset company said Thursday in a statement that each unit will be made up of C$1,000 in principal amount of senior secured convertible debenture and one share purchase warrant per C$0.30 of principal amount.

READ: Crop says Washington State tenant’s cannabis crops pass tests for impurities

Each warrant, according to the company, entitles the holder to acquire one common share at an exercise price of $0.50 per warrant share for a period of three years from the date of the offering’s closing.

At any time, the company said, holders may convert all or part of the principal amount for the debentures into common shares at a conversion price of C$0.30 per conversion share.

Shares of Crop climbed C$0.01 to C$0.32 in Thursday’s Canadian trading. They traded at US$0.25 on the OTC Markets.

The company's portfolio of projects includes cultivation properties in California, two in Washington State and a 1,000-acre Nevada cannabis farm.

Earlier this week, the company said its Washington State tenant’s first cannabis crops had passed all tests for microbial impurities and showed no detectable pesticides.

Contact Dennis Fitzgerald at [email protected]

Quick facts: Crop Infrastructure Corp.

Price: $0.15

Market: CSE
Market Cap: $24.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Crop Infrastructure Corp. named herein, including the promotion by the Company of Crop Infrastructure Corp. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Cannabis stocks drop but Crop Infrastructure shares jump after...

Buds leading the way Friday are CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF), True Leaf Brands Inc (CSE:MJ) (OTCMKTS:TRLFF). The duds are Canopy Growth Corporation (TSE:WEED) (NYSE:CGC), Acreage Holdings Inc (OTCMKTS:ACRGF). 

on 06/14/2019

2 min read