CXXIF - Cannabis Co. C21 Investments Secures Funding For $3.5M Acquisition Of Nevada's Deep Roots Harvest | Benzinga
C21 Investments Inc. (CSE:CXXI) (OTCQX:CXXIF) announced on Monday the closing of its non-brokered private placement offering of its convertible debenture units.
What Happened
Under the deal, the company issued a total of 4,000 convertible debenture units at CA$1,000 ($731.375) per convertible debenture unit for aggregate gross proceeds of CA$4 million.
Each convertible debenture unit offered under the private placement is comprised of one convertible debenture of the company in the principal amount of CA$1,000 convertible into the company's common shares and 1,000 detachable common share purchase warrants, with each warrant exercisable into one common share at CA$0.55 per share for 30 months from the issue date of the convertible debenture units.
Subject to earlier conversion, redemption or purchase, the repayment of the principal amount of the convertible debentures will be made ...