CANADA: Isodiol, a global cannabis innovator specializing in the development of pharmaceutical and consumer products announces it has signed a convertible debenture financing for $25,000,000 CDN with Alumnia Partners.
Marcos Agramont CEO of Isodiol stated, “Our focus remains to grow revenues by developing the Isodiol brand domestically and in international markets. This funding support allows us to further enhance our global expansion and move forward on strategic acquisitions. Innovation and development of IP is what separates us from our competitors and we will continue to make this a priority.”
“We’re pleased to help support Isodiol’s plans to realize one of the industry’s longstanding aspirations of truly normalizing and bringing regulated cannabis into the mainstream,” added Adi Nahmani , Managing Member of Alumina Partners. “As demonstrated by their growth, Isodiol’s talented team is working diligently on many fronts to make tomorrow’s idealistic dream a commercial reality today.”
Pursuant to the terms of the offering, the debenture has no minimum draw down requirement and is a 24 month term at an annual interest rate of 8% with no upfront fees or associated costs. Alumina Partners will commit up to $25,000,0000 CDN with conversion terms consisting of one common share (the “Shares”) and one half of one common share purchase warrant (the “Warrants”), at discounts ranging from 15% to 25% of the market price of the shares. The exercise price of the Warrants will be at a 50% premium over the market price of the Shares.