NEW YORK: Tikun Olam USA, the world pioneer in cannabis research, is pleased to announce the closing of a $7,000,000 offering of 6% convertible promissory notes (the “Notes”), maturing in March 2019.
Proceeds from the Notes, issued by T.O. Global LLC, a New York limited liability company (the “Company”), will be used for product research and development, enhancing and protecting intellectual property, patient studies and trials, advertising and marketing of the Company’s brand, payment of corporate, organizational and transactional expenses, repayment of indebtedness to a related party, and working capital and general corporate purposes.
This financing highlights recent major licensing deals for the Company that will bring its exclusive, branded, science-backed cannabis products to more than ten U.S. states, from coast to coast in 2018.
About Tikun Olam
Tikun Olam (“repair the world” in Hebrew) is a leading cannabis brand and globally recognized as the pioneer of modern medical cannabis. The company’s global mission is to research, develop and provide efficacious, data-based cannabis treatments to help sufferers. Operating as a commercial venture for over ten years, Tikun Olam’s products have been used since 2010 in ongoing clinical trials in Israel’s regulated medical cannabis market, treating over 10,000 patients for a variety of symptoms of medical conditions such as Cancer, PTSD, AIDS, epilepsy, Crohn’s Disease/Colitis, multiple sclerosis, cerebral palsy, chronic pain and neuropathy.