An announcement from CanadaBis Capital, Inc. ( (TSE:CANB) ) is now available.
CanadaBis Capital Inc. has successfully closed the first tranche of its brokered private placement, raising $2.6 million through the issuance of unsecured convertible debentures. The debentures, which bear an interest rate of 11% per annum and mature in 2029, offer flexibility for conversion into common shares and potential redemption options. This financing move supports CanadaBis’s strategic growth initiatives, including a plan of arrangement with Simply Solventless Concentrates Ltd., although the financing is not contingent upon the arrangement’s completion. The successful closing of this tranche indicates strong investor confidence in CanadaBis’s market positioning and future prospects.
More about CanadaBis Capital, Inc.
CanadaBis Capital Inc. is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the global cannabis market, with a particular emphasis on supplying the fast-emerging concentrates category through their Stigma Grow cultivation and BHO extraction facility.
YTD Price Performance: 58.33%
Average Trading Volume: 183,648
Technical Sentiment Signal: Buy
Current Market Cap: C$13.13M
For a thorough assessment of CANB stock, go to TipRanks’ Stock Analysis page.