Latin American Cannabis Co. Blueberries Medical Wraps Up 2023 With Multi-Million Dollar Private Placement Deal
Portfolio Pulse from Jelena Martinovic
Blueberries Medical Corp. (OTC:BBRRF) announced a non-brokered private placement of 180,716,00 common shares at $0.0083 per share, raising approximately $1.99 million. The proceeds will repay debt and support general corporate purposes. The offering was led by Terraflos Inc., with plans to expand into Argentina, Mexico, and Brazil. Blueberries also has a joint venture with Allied Corp. (OTCQB:ALID) for the production of cannabis derivatives. Post-announcement, BBRRF shares rose 12.7451% to $0.0138.
January 02, 2024 | 4:10 pm
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POSITIVE IMPACT
Allied Corp. has a joint venture with Blueberries Medical Corp. for the production of cannabis derivatives, which may benefit from the latter's recent capital raise.
While not directly involved in the private placement, Allied Corp.'s joint venture with Blueberries Medical suggests potential indirect benefits from the capital raise, such as enhanced production capabilities and sales efforts. The impact is positive but less direct than for Blueberries Medical.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Blueberries Medical Corp. successfully completed a private placement, raising funds to repay debt and for corporate purposes, with its stock price increasing by 12.7451% after the announcement.
The successful capital raise and subsequent use of funds for debt repayment and corporate growth are positive signals to investors, likely contributing to the stock price increase. The direct involvement in the news and the significant price movement post-announcement indicate a strong relevance and importance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100