Friday, March 28, 2014 1:39:35 PM
http://www.streetinsider.com/Analyst+Comments/9323810.html
Full Circle Capital (NASDAQ: FULL) stock declined after Advanced Cannabis Solutions, Inc. (OTCBB: CANN) stock was halted. Full Circle confirmed it entered into a purchase agreement with Advanced Cannabis Solutions, Inc. to fund $30.0 million of senior secured convertible notes in January 2014. In conjunction with the closing of this agreement, Full Circle Capital purchased for $500,000 warrants to purchase 1.0 million shares of currently unregistered common stock of American Cannabis stock at a $5.50 per share exercise price.
Commenting on developments, analyst Andrew Kerai of National Securities said, "Details are relatively vague at this point, and CANN's management team claimed not to be aware of the reasoning behind the trading suspension when we spoke this morning. The SEC disclosed that "there are questions whether certain undisclosed affiliates and shareholders" may have "engaged in an unlawful distribution of securities" and, as aresult, enacted this trading suspension. We believe the recent increase in Full Circle's stock price was due to the increase in CANN's share price, and many of FULL's investors decided to sell their shares once this announcement was released."
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