Nov 28, 2023
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BANGI to Launch $50m Reg A+ Debt Offering Through TruCrowd Services: Offering Will Be Marketed on Cannabis Funding Portal Fundanna.com
November 13, 2019 8:13 AM EST | Source: BANGI Inc.
Los Angeles, California--(Newsfile Corp. - November 13, 2019) - BANGI, Inc. (OTC: BNGI) ("BANGI" or the "Company"), a diversified investment vehicle that acquires and leases specialized real estate assets in the cannabis, hemp and CBD industries, today announced that it plans to work with TruCrowd Services LLC, a communications company focused on marketing Regulation A (Reg. A+) and Regulation Crowdfunding (Reg. CF) through its RegABoost brand, to begin marketing the Company's $50 million Reg A+ debt offering, once the Securities and Exchange Commission (SEC) approval is granted.
TruCrowd Services, LLC, intends to list BANGI's Reg. A+ offering on the cannabis focused FINRA-registered crowdfunding investment portal, Fundanna.com. In recent years, Fundanna.com has built its reputation as a preeminent crowdfunding portal for cannabis companies having completed several successful offerings under the JOBS Act, clearing the path for BANGI's highly anticipated $50 million Reg A+ offering.
The Company noted that it is working closely with the SEC to ensure its Reg A+ offering is compliant with all regulatory requirements. It further added that, with the SEC's approval, it expects to take advantage of the SEC's TestTheWaters™ program before proceeding with a full-fledged offering. The TestTheWaters™ program enables companies to first test market themselves to determine if there is sufficient investor interest to successfully complete a Regulation A+ capital raise before having to incur substantial time and expenses related to the marketing of a full-fledged offering, such as the completion of an audit amongst other requirements. The SEC allows companies to market themselves in TestTheWaters™ with few restrictions so companies can cost-effectively conduct a test using social media, email, online advertising and more.
"It is an exciting time for both the crowdfunding industry as well as rapidly growing cannabis companies that are raising growth capital through the JOBS Act," said Sean Fuellhart, Chief Operating Officer of TruCrowd Services, LLC. "We believe that Fundanna is on-track to solidifying its position as the preeminent crowdfunding portal for the booming cannabis industry, which is why it is our intention to market BANGI's $50 million Reg A+ offering on this portal," concluded Mr. Fuellhart.
"The SEC's Reg A+ exemption will allow BANGI to raise up to $50 million from both accredited and non-accredited investors through a non-dilutive debt offering," said Dr. Neil Parsan, Chairman and Chief Executive Officer of BANGI, Inc. "We are excited to deliver on our commitment to allow early members of the growing cannabis communities who previously could not participate in major stock offerings due to their inability to meet certain wealth or income requirements to be considered an 'Accredited Investor'. Now, these early supporters of BANGI and our growth strategy, will be able to participate at the same level playing field as any major institutional investor or hedge fund. The capital raised from our offering will launch our highly anticipated acquisition strategy that will seek to enhance shareholder value by targeting properties with high rental income potential as well as long-term asset appreciation."
To be added to BANGI's investor or media lists, please call 833-BANGINC or via email at ir@bangistock.com.
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For additional information about BANGI, please visit www.bangistock.com.
BANGI (pronounced bon-ghee), which means "marijuana" or "hemp" in the African dialect Swahili, is a diversified investment vehicle that acquires and leases specialized real estate assets, such as cannabis farms. The Corporation combines hard asset security and long-term appreciation potential. For more information, visit www.bangistock.com.
BANGI, Inc. Forward-Looking Statements
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Contact Information:
Investor Relations
BANGI, Inc.
833-BANGINC
ir@bangistock.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49681