GREY:ALEAF - Post by User
Comment by
OldSchooIon Jun 22, 2020 5:15pm
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Post# 31178403
RE:RE:DEATH
RE:RE:DEATHpenismightier wrote: Well... the opposite is actually true. It disposed of the shorters. The market didn't like the timing and neither did I, but short term pain for long term gain I guess..
And at least it wasn't this:
NEW YORK, June 17, 2020 (GLOBE NEWSWIRE) -- Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) today announced it entered into a short-term definitive funding agreement with an institutional investor (the “Lender”) for a total of $15,000,000 in gross proceeds.
FINANCING TERMS AND DETAILS
The secured note has a maturity date of four months and bears interest at a per annum rate of 60%. It is secured by, among other items, the Company’s cannabis operations in Illinois, New Jersey and Florida, as well as the Company’s U.S. intellectual property. In the event of default, the Company is further obligated to pay to Lender an additional fee of $6,000,000. The Company may pre-pay the note without penalty or premium at any time following the 90th day following the closing.
Acreage expects to use the proceeds for working capital and general corporate purposes.