Greenlane, KushCo Merge
Global brand house Greenlane Holdings, Inc.. and additional products and service providers KushCo Holdings, Inc. merged in March. KushCo became a wholly-owned subsidiary of Greenlane as part of the transaction, which brought together two subsidiary companies with more than 25 years of operating history. The combined company expects sales of more than $ 310 million in 2021.
“As an industry leader, the combined company is well positioned to increase profitability and maximize value for all shareholders, while offering our valued customers an expanded range of products and benefits,” said KushCo Co-Founder and Chief Executive Officer Nick Kovacevish.
Flower One issues common stock
Under a loan modification agreement, the Nevada-based cultivator and producer Flower One Holdings Inc. (CSE: FONE) (OTCQX: FLOOF) (FSE: F11) issued 1,996,742 shares of common stock to the Delaware limited liability company RB Loan Portfolio II, LLC and its respective borrowers.
Dynaleo Inc. closes oversubscribed equity financing
Canadian manufacturer Dynaleo Inc. completed an unbroken offering of Class A common stock for $ 9.7 million.
“We have raised over $ 25 million since our inception and are grateful for the support of our investors who continue to see the tremendous opportunity that lies ahead,” said Dynaleo Executive Chairman Michael Krestell. “Our top priority is to develop and manufacture products that consumers will enjoy and trust. But behind the scenes, this requires complex supply chain management and the ability to navigate the highly regulated Canadian retail channel. Our recent funding gives us the liquidity we need to achieve our goals. “
Eden Empire completes completion of the first tranche of the non-brokered private placement
Eden Empire Inc. (CSE: EDEN), a Canadian retailer, closed the first tranche of its previously announced private placement of $ 1,000,000. The first tranche consisted of 4,875,333 units for gross proceeds of $ 585,040. The company paid a total of $ 19,980 in money finder and issued 166,500 warrants to Haywood Securities Inc. and Leede Jones Gable Inc. in connection with the private placement of the first tranche.
Gage Growth Corp. starts trading on the Canadian Stock Exchange
Cultivator and brand house based in Michigan Gage Growth Corp. On April 6, subordinated voting shares began trading on the Canadian Stock Exchange under the symbol “GAGE”.
“We are humble with the support we have received from our shareholders, customers, strategic partners and those who cheered us on the sidelines in anticipation of our listing,” said Gage, chief executive officer Fabian Monaco. “As a publicly traded company, this milestone will increase our visibility, enable us to attract new investors, increase our brand awareness and open doors to exciting new business opportunities.”
Auxly receives conditional approval to trade on the Toronto Stock Exchange
Auxly Cannabis Group Inc. (TSXV: XLY) (OTCQX: CBWTF), a consumer goods company, received conditional approval from the Toronto Stock Exchange to move from the TSX Venture Exchange to the TSX. The company’s common stock will be delisted from the TSXV and will trade on the TSX under the existing symbol “XLY”.
“This conditional acceptance for listing on Canada’s largest exchange is a significant milestone for Auxly,” said Auxly, chief executive officer Hugo Alves. “After an incredibly successful launch of Cannabis 2.0 last year and our strategic expansion into Cannabis 1.0 in 2021, we believe joining the TSX is the next logical step for our business growth. By raising our profile in the investment community and improving the liquidity of our stocks, we can expand our shareholder base and continue to build long-term shareholder value for our investors. “
Rubicon Organics pays back its first $ 5.0 million mortgage
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF), a licensed manufacturer of certified organic cannabis, has repaid a $ 5.0 million mortgage on its Delta facility. The repayment monies came from proceeds from the company’s recently completed equity financing of $ 23 million.
“Our leverage served us well and limited dilution to shareholders as the company expanded,” said Rubicon’s chief executive officer Jesse McConnell. “We are still very well capitalized to implement our innovation pipeline and drive strategic initiatives with the aim of increasing shareholder value through disciplined capital allocation.”
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