Alchemist Mining Inc (CSE:AMS) stands to receive a C$3.5 million injection from a real estate investment company.
Pedro Villagran-Garcia, CEO of Dinatrum/Alumifuel Power Corporation (OTCMKTS:AFPW), said in a statement Thursday that he has made the investment proposal to Alchemist.
According to Dinatrum, Alchemist will issue 14 million post-consolidation shares at C$0.25 per unit. Each unit consists of one share and one warrant exercisable at C$0.60 with a two-year expiration.
Alchemist, a global provider of consulting and technology solutions to the cannabis sector, has been granted conditional approval by the CSE, which will allow it to trade once the C$3.5 million has been invested, Dinatrum said.
Dinatrum also said it has made the commitment to invest in Alchemist so that it can capitalize on the real estate opportunities available to it through Alchemist in California and the US.
Dinatrum said it has signed an investment letter of intent and will proceed to sign a more formal agreement once the funding has been arranged.
Alchemist, based in Vancouver, is preparing to change its name to Alchemist Holdings Inc with the ticker symbol 'ALH'.
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