Ottawa, ON — July 12, 2018 — /D.M.O. Newswire/ — CannaRoyalty Corp. (CSE:CRZ) (OTC:CNNRF) announced that it has closed its previously-announced, fully marketed private placement of unsecured convertible debentures.
Here’s What You Need to Know
- CannaRoyalty’s private placement offering of unsecured debentures raised aggregate gross proceeds of $32,980,000 CAD, equivalent to roughly $25,054,127.67 USD.
- The offering was comprised of 30,000 unsecured convertible debentures of the company at a price of $1,000 CAD per convertible debenture.
- The agents also partially exercised their option to arrange for purchases of additional convertible debentures in an over-allotment option, raising an additional $2.98 million CAD in gross proceeds.
- Proceeds from the financing will be primarily used by the company to expand its footprint across California, as well as general corporate and working capital purposes.
- Agents included Canaccord Genuity Corp. as lead agent for a syndicate of investment dealers including Altacorp Capital Inc., Beacon Securities Ltd., Cormark Securities Inc., Sprott Private Wealth LP, Infor Financial Inc., and Mackie Research Capital Corporation.
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