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Cannabis cultivator Greenway Greenhouse Cannabis Corporation has closed oversubscribed for gross proceeds of CAD$3.5 million of 13% secured convertible debentures.
Abingdon Capital Corporation acted as the exclusive financial advisor for the Offering.
Greenway has stated that the funds will be used to make final payments of outstanding expenses related to the company’s recently completed facility expansion, general corporate expenses and working capital requirements.
CEO of Greenway, Jamie D’Alimonte, stated: “I want to again thank our new and existing investors, for showing trust and faith in the Greenway team. Our hard work, and their trust in our strategy is why we were able to close this private placement above our original target,” said
“With this funding in we are able to be more nimble with our go to market strategy for Greenway branded consumer products, while continuing to keep up with the increasing demand for our high-quality flower in the wholesale market.”
All securities issued in connection with the offering will be subject to a statutory hold period until February 28, 2024 in accordance with applicable securities legislation.
