Big acquisition in the works imo....
Isodiol arranges $25-million debenture financing
2017-08-21 18:52 ET - News Release
Mr. Marcos Agramont reports
ISODIOL INTERNATIONAL INC. ANNOUNCES $25,000,000 CONVERTIBLE DEBENTURE FINANCING
Isodiol International Inc. has signed a convertible debenture financing for $25-million with Alumnia Partners.
Marcos Agramont, chief executive officer 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 long-standing 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 drawdown requirement and has a 24-month term at an annual interest rate of 8 per cent with no upfront fees or associated costs. Alumina Partners will commit up to $25-million with conversion terms consisting of one common share and one-half of one common share purchase warrant, at discounts ranging from 15 per cent to 25 per cent of the market price of the shares. The exercise price of the warrants will be at a 50-per-cent premium over the market price of the shares.
About Isodiol International Inc.
