Vancouver Cannabis Co's $2.3M In Private Placement Deal Paves Way For More International Expansion
Portfolio Pulse from Jelena Martinovic
Christina Lake Cannabis Corp. has closed the first tranche of a non-brokered private placement of secured convertible promissory notes amounting to $2.35 million. The proceeds will be used to repay outstanding debentures, working capital, and general corporate purposes. The company has also entered the South African market via a supply deal with MG BioTech Ventures. Christina Lake’s shares traded 2.4242% lower at $0.0322 per share at the market close on Monday.
September 12, 2023 | 2:04 pm
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NEGATIVE IMPACT
Christina Lake Cannabis Corp. has raised $2.35 million through a private placement. The funds will be used for debt repayment and expansion. The company's shares traded lower.
The company has successfully raised funds through a private placement, which will be used for debt repayment and expansion. However, the company's shares traded lower, which could be a reaction to the news. The impact is negative in the short term as the market reacts to the news, but could turn positive in the long term as the funds are used for expansion.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100