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European High Growth Opportunities Securitization Fund converts Braingrid debentures

European High Growth Opportunities Securitization Fund announced Monday that it now holds 30.1% of the issued and outstanding shares of Braingrid on a non-diluted basis

Cannabis greenhouse
Toronto-based Braingrid provides grow analytics by capturing real-time data using its technology platform

European High Growth Opportunities Securitization Fund announced Monday it has converted C$160,000 of Braingrid Limited (CSE:BGRD) debentures of its total C$850,000 of debentures, as well as selling a total of 6 million shares. 

The fund is run by London-based money manager Alpha Blue Ocean Inc. According to the terms of the financing, Braingrid issued $850,000 in convertible debentures, and share purchase warrants to acquire up to 14.8 million common shares of the company in June. 

READ: Braingrid keen to be a global player as its focus shifts to cultivation analytics in precision agriculture

After the move, the fund now holds $530,000 of Braingrid debentures and 14.8 million warrants, representing 30.1% of the issued and outstanding shares on a non-diluted basis and 23.2% of the issued and outstanding shares on a diluted basis.

Toronto-based Braingrid provides grow analytics by capturing real-time data using its technology platform to increase revenues, reduce costs, risks and improve yield for cannabis-licensed producers.

Shares of Braingrid were on the rise Monday, up 20% at C$0.03. 

Contact Katie Lewis at [email protected]

Quick facts: Braingrid Ltd.

Price: 0.005 CAD

CSE:BGRD
Market: CSE
Market Cap: $249.59 k
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Braingrid Corporation secures 5.1 million dollars in financing over 3 years

Braingrid Corporation (CSE:BGRD) CEO Michael Kadonoff joined Steve Darling from Proactive Investors in Toronto to talk about their agreement with the European High Growth Opportunities Securitization Fund for 5.1 million dollars. Kadonoff told Proactive how the financing will work and...

on 06/12/2019

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