Proactive Investors - Run By Investors For Investors

CROP Infrastructure closes debenture offering, raising up to C$1 million

The senior secured convertible debentures were issued with a discount of 20%, with aggregate face value of up to C$1.25 million
Cannabis plant
Crop has a portfolio of cannabis branding, CBD and real estate assets through its wholly and partially-owned subsidiaries.

CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF), the cannabis-focused group, has closed its previously announced debenture offering and raised a total of up to C$1 million gross.

As reported earlier this week, the proceeds are expected to be used to continue to grow the firm's US operations and for general working capital.

READ: CROP Infrastructure plans C$1 million debenture offering

The senior secured convertible debentures were issued with a discount of 20%, with aggregate face value of up to C$1.25 million, the Vancouver-based company said.

The debentures will mature one year from the closing of the offering and will bear interest at a rate of 10% a year, payable quarterly in cash.

Holders may convert all or any part of the principal outstanding under the debentures into company shares at C$0.30 each and unpaid interest may be converted into shares at a conversion price of C$0.30 each.

Each subscriber to the offering will receive one share purchase warrant for each C$0.30 of principal amount. Each warrant entitles the holder to acquire one company share at an exercise

price of C$0.50 per warrant share for three years from closing.

Crop has a portfolio of cannabis branding, CBD and real estate assets through its wholly and partially-owned subsidiaries.

Contact Giles at [email protected]

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full CROP profile View Profile

Crop Infrastructure Corp. Timeline

Related Articles

A WeedMD greenhouse
January 21 2019
WeedMD produces cannabis and cannabis oil for both the medical and adult-use markets
data graphic
March 22 2019
The Toronto company is busy meeting what it says is significant demand by building a data asset covering the medical cannabis sector
cannabis extraction
April 09 2019
NextLeaf Solutions is developing intellectual property around converting the cannabis plant into infused products through a scalable, repeatable process
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use