Green Growth Brands Adds Another Strategic Investor: Brings Total Raise to Over C$140 Million

green growth brands.

Green Growth Brands: Latest Investor’s Update

COLUMBUS, Nov. 5, 2018 /CNW/ – Green Growth Brands (“GGB“) is pleased to announce, in advance of its previously announced business combination transaction (the “Transaction“) with Xanthic Biopharma Inc., that it has closed an additional private placement investment of approximately C$30.5 million with a strategic partner, at a post-Transaction consolidation price of C$2.00 per share. The subscriber further intends to exercise, prior to completion of the Transaction, approximately C$24.5 million of common share purchase warrants of GGB issued under the private placement, with each exercisable on the same consolidation price of C$2.00 per share. The subscriber will be required to make payment of the C$24.5 million exercise price within 30 days. Assuming exercise of and full payment for the warrants, the total funds raised by GGB following the announcement of the Transaction will exceed C$140 million.

xanthicbiologoshadow xthc big 1 - Green Growth Brands Adds Another Strategic Investor: Brings Total Raise to Over C$140 Million

SEE RELATED ARTICLE  Ten New Cannabis Stocks are Being Added to Canada's Largest Pot ETF

Green Growth Brands: The Big Transaction

This private placement follows GGB’s initial private placement of convertible debentures, which was upsized from its original target of C$55 million to over C$86 million, due to significant demand, in particular from a number of strategic investors. The Transaction is targeted for completion the week of November 5, 2018, with trading to resume on the Canadian Securities Exchange under the ticker symbol “GGB” shortly thereafter.

 

Green Growth Brands: Attracting Investors From Outside The Cannabis World

“We’ve seen a significant amount of interest in the company, not only from consumers and industry partners, but from the investment community at large,” said Green Growth Brands CEO Peter Horvath. “Expanding our relationships with strategic investors is a priority for us, and this recent deal fits the bill perfectly.”

SEE RELATED ARTICLE  It's high times for soaring marijuana stocks on Wall Street

“We’re very focused on quickly expanding our footprint across North America, and this funding will allow us to acquire additional cannabis licenses and grow facilities,” continued Mr. Horvath. “We’re also very excited about our new CBD-infused body care collection, which has been very successful in our test markets. Our management team has exceptionally strong experience in the personal care and beauty industry, so we’re confident that we’ll quickly gain a leadership position.”

 

 

SOURCE: Green Growth Brands

rt - Green Growth Brands Adds Another Strategic Investor: Brings Total Raise to Over C$140 MillionFor further information: For investor relations inquiries, please contact: Eric Wright, Green Growth Brands, 416-640-2963 [email protected]; Julia Fulton, Green Growth Brands, 440-668-1348 [email protected]; For media inquiries or interviews, please contact: Wynn Theriault, Thirty Dash Communications, 416-710-3370, [email protected]

https://www.greengrowthbrands.com/

SEE RELATED ARTICLE  Demand for Legalized Cannabis in Early Hours Draws Lineups, Heavy Web Traffic

 

Comments