Business
American Cannabis Company Announces a $5 Million Fixed Funding Commitment
American Cannabis Company Announces a $5 Million Fixed Funding Commitment.
About this update from American Cannabis Company, Inc.
[{"type":"text","content":"\n \n \n American Cannabis Company Announces a $5 Million Fixed Funding Commitment\n \n \nAmerican Cannabis Company Announces a $5 Million Fixed Funding Commitment\n \n DENVER, CO--(Marketwired - Jun 24, 2016) - American Cannabis Company, Inc. (OTCQB: AMMJ) (the \"Company\"), a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, today announced that it has signed an investment agreement with Tangiers Global LLC (\"Tangiers\") for a fixed funding equity commitment of up to $5 million. The closing is subject to an effective registration statement. Concurrent with execution of the investment agreement, the Company also entered into a bridge loan facility of up to $330,000 pursuant to which it issued an 8% fixed price convertible promissory note due February 14, 2017.\n Proceeds of both the bridge loan and equity facilities may be used for working capital purposes and to pursue acquisition or other strategic opportunities.\n Corey Hollister, President and CEO of American Cannabis Company, commented: \"We are extremely excited to have Tangiers as a financial partner for American Cannabis Company. They understand the history of American Cannabis Company, our clear vision for the future and the enormous market within our reach, as reflected by this substantial commitment.\"\n A senior representative of Tangiers stated: \" American Cannabis Company, Inc. has assembled a top tier management team and is executing on a dynamic business model in an industry that is rapidly growing. We're excited to be partnered with them as they expand their footprint, innovate new products and position themselves as a leader in the space. We are committed to ensuring that their capital needs are met along the way.\"\n About American Cannabis Company, Inc.:\n American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis industry. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. Through our two vertically integrated businesses, American Cannabis Consulting and American Cultivator Company, a group purchasing organization, we support our clients from concept to creation to commercialization to on...