- On July 2, PLUS warrants and debentures began trading on the Canadian Securities Exchange under ticker symbols ‘PLUS.DB’ and ‘PLUS.WT’
- The warrants and debentures were part of a brokered private placement that closed in February 2019, raising gross proceeds of C$25 million
- Plus Products is a San Mateo, California-based manufacturer and marketer of cannabis food products; it has grown from its California base into Nevada
Plus Products Inc.’s (CSE: PLUS) (OTCQX: PLPRF) debentures and warrants from its brokered private placement that closed February 28, 2019, were listed, beginning July 2, on the Canadian Securities Exchange under ticker symbols ‘PLUS.DB’ and ‘PLUS.WT’ (http://ibn.fm/GpEOX). The warrants and debentures were part of a private placement that raised C$25 million, with the funds to be used for working capital and other general corporate purposes.
The private placement of unsecured convertible note units closed on February 28 (http://ibn.fm/yxOqU). The brokered private placement of 25,000 units of the company at a price of C$1,000 per unit consisted of one unsecured convertible debenture having the principal amount of C$1,000 and 77 subordinate voting share purchase warrants of the company.
Every debenture accrues interest at eight percent per year, payable semiannually in arrears until the February 21, 2021, maturity date. They are also convertible into subordinate voting shares at C$6.50 per conversion share starting September 28, 2019. The debentures are unsecured obligations of the company.
Each warrant entitles the holder to acquire one subordinate voting share at a C$8 exercise price per warrant share until February 28, 2024. If exercised during the one-year period from February 28, 2019, the warrant shares will be subject to a 365-day contractual hold from February 28, 2019.
San Mateo, California-based PLUS is a cannabis-infused branded products manufacturer selling to regulated medicinal and adult-use recreational markets in its home-base market of California and Nevada. PLUS is focused on building the largest cannabis brand by growing organically and through acquisitions.
For more information, visit the company’s website at www.PlusProducts.com
NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://ibn.fm/PLPRF