AgriCann Solutions Completes Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - AgriCann Solutions Corp. (the "Company", "AgriCann" or "ASC") is pleased to announce it has closed an upsized private placement of 6,000 $100 Convertible Debentures (collectively the "CDs") as announced and detailed in a May 17, 2021 news release, for proceeds of $600,000.
Directly or indirectly subscribing for these CDs include insiders Tim Tombe ($250,000) and Rob van Santen ($250,000), non-arm's-length parties to the Company by virtue of holding more than 10 per cent of the Company's issued and outstanding common shares on a fully diluted basis, and/or holding officer and director positions in the Company.
Amendment to Craft Nurseries Canada Convertible Loan Agreement
As previously disclosed, the Company has completed its funding commitment to Craft Nurseries Canada ("CNC") under a $600,000 Convertible Loan Agreement ("CLA"). The parties to the CLA have mutually agreed to extend the 12-month Maturity Date thereto by six months to now expire December 1, 2021.
About AgriCann Solutions Corp.
The Company is a "Reporting Issuer" that originated as one of three spinouts upon completion of a statutory plan of arrangement completed by The Valens Company (formerly Valens GroWorks Corp.) on March 12, 2015. The Company seeks to strategically acquire suitable business opportunities with potential for scalable near-term cash flow and sustainable growth to create shareholder value.
ON BEHALF OF AGRICANN SOLUTIONS CORP.
(signed) "Rob van Santen"
CEO & Director
For further information, please contact:
Robert van Santen, CA, CPA, CMT
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law. The Company will provide further updates respecting these initiatives as developments occur. There can be no assurance that interests in any or all of these or additional projects being pursued will be acquired, funded and/or commercialized.
AgriCann Solutions Corp.
400-1771 Robson Street, Vancouver, BC, Canada V6G 1C9
Tel. +1.604.608.1999 ~ Fax. +1.778.379.9990
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84602