OTCPK:CFGMF - Post Discussion
Post by
GUNSS on Apr 03, 2019 10:40am
CGM gets debt funding for Greenhouse...
Wow, that was faster than I thought. I was hoping that newly minted #hemp high #CBD content seed propagator California Gold Mining, Inc. $CGM was going to lock down funding for its Greenhouse in April, but they announced it on April 3rd! AND, MORE IMPORTANTLY, it's debt, not equity! ''This credit facility provides us with the funding to finance the entire capital expense of developing the 27,000 sq. ft. greenhouse, and a substantial portion of our 1st year's operating expense..." They have secured enough cash to build the Greenhouse, with an extra US$1 million for op-ex. So, the company still has 55 million shares outstanding. The only equity piece is 300,000 warrants at a premium to the current price. 300k warrants at C$0.50. Warrants, I would not have been surprised if it was 500k shares issued at zero cost to the lender...
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