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SIMPLY SOLVENTLESS ANNOUNCES $5.0 MILLION CONVERTIBLE DEBENTURE FINANCING WITH $3.0 MILLION LEAD ORDER, JANUARY RECORD REVENUE & NEAR-TERM PRODUCT LAUNCHES
SIMPLY SOLVENTLESS ANNOUNCES $5.0 MILLION CONVERTIBLE DEBENTURE FINANCING WITH $3.0 MILLION LEAD ...
About this update from Simply Solventless Concentrates Ltd
[{"type":"text","content":"\n\n\n\n SIMPLY SOLVENTLESS ANNOUNCES $5.0 MILLION CONVERTIBLE DEBENTURE FINANCING WITH $3.0 MILLION LEAD ORDER, JANUARY RECORD REVENUE & NEAR-TERM PRODUCT LAUNCHES\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n SIMPLY SOLVENTLESS ANNOUNCES $5.0 MILLION CONVERTIBLE DEBENTURE FINANCING WITH $3.0 MILLION LEAD ORDER, JANUARY RECORD REVENUE & NEAR-TERM PRODUCT LAUNCHES\n \n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Jan. 28, 2025\n \n\n /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (\"\n \n SSC\n \n \") is pleased to announce that it has launched a non-brokered private placement financing of up to 5,000 secured convertible debenture units (the \"\n \n Debenture Units\n \n \") at a price of\n \n $1,000\n \n per Debenture Unit, for gross proceeds of up to\n \n $5.0 million\n \n , inclusive of a\n \n $3.0 million\n \n lead order from institutional investor Plaza Capital (the \"\n \n Financing\n \n \"). Proceeds of the Financing are expected to fund the purchase price of the previously announced acquisition of all of the issued and outstanding shares of Delta 9 Bio-Tech Inc. (\"\n \n Bio-Tech\n \n \") (\n \n see link\n \n ) which is anticipated to close in early February, to further strengthen SSC's balance sheet in readiness for future value additive opportunities and for general working capital purposes. SSC is also pleased to announce record expected monthly revenue in\n \n January 2025\n \n of approximately\n \n $4.5 million\n \n (excluding Bio-Tech revenue), demonstrating the success of SSC's recent accretive acquisitions, and the near-term launch of 25 new and uniquely differentiated products under its existing prominent brands Astrolab, Frootyhooty, Lamplighter, and Zest into the\n \n Alberta\n \n and\n \n Ontario\n \n recreational markets.\n \n\n\n\n\n\n\n\n\n\n Jeff Swainson\n \n , SSC President & CEO stated: \"It was important to fund the Bio-Tech acquisition in a manner that l...