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Red White & Bloom Brands (RWBYF) - RWB Acquires Acreage s Florida Operations For $60M benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Red White & Bloom Arranges Approximately US$13.5 Million to Finance its Closing Costs for .
Red White & Bloom Brands Inc.February 11, 2021 GMT
- RWB receives CDN$8 million warrant exercise from institutional investor -
- Signs irrevocable US$7 million non-convertible debenture unit financing commitment -
- On schedule for a First Quarter 2021 acquisition closing -
TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) Red White & Bloom Brands Inc.(CSE: RWB) (OTC: RWBYF) (“RWB” or the “Company”) announces that it has arranged the required cash for closing of its previously announced acquisition of an Illinois Adult Use and Medical Cannabis Cultivation Center License and Associated Assets (the “Illinois Assets”).
Red White & Bloom Brands Inc. (CSE:RWB) (OTCQX:RWBYF) has raised some $13.5 million to fund the closing of its previously announced purchase of a THC cultivation license in Illinois alongside additional assets.
The sum includes CA$8 million ($6.31 million) coming from an investor via a warrant exercise for some 8 million of RWB’s common shares, $7 million as part of a non-convertible debenture unit financing commitment, as well as cash on hand.
The Toronto-based company expects to close the acquisition announced in December, later this quarter.
Following the takeover, RWB will oversee the Shelbyville-based operation, previously run by Cannabis Capital Partners Inc.