Canada-based cannabis company TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8) late
Thursday announced that it has closed its previously detailed and upsized
brokered private placement of units, generating gross proceeds of C$16 million.
Per the update, an aggregate of eight million units of the company were sold at
a price of C$2.00 per unit, with each unit comprised of one common share of
TransCanna and one half of one common share purchase warrant. TransCanna
intends to use the net proceeds of the offering to fund an $8 million down
payment for its proposed acquisition of a 196,000-square-foot cannabis
facility. The proceeds are further earmarked for equipment purchases and for
working capital and general corporate purposes.
To view the full press release, visit http://ibn.fm/0YVKS
About TransCanna Holdings Inc.
TransCanna Holdings Inc. is a Canadian-based company focused
on providing integrated branding, transportation and distribution services,
through its wholly-owned California subsidiaries, to a range of industries
including the cannabis marketplace. For more information, visit the company’s
website at www.TransCanna.com
NOTE TO INVESTORS: The latest news and updates
relating to TCAN are available in the company’s newsroom at http://ibn.fm/TCAN
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