- Fiore Cannabis (FIOR) signed a non-binding term sheet for financing of up to C$30 million
- In accordance with the term sheet, Fiore will issue common shares in tranches at the over the 36-month
- Additional information concerning the financing once the parties have entered into a binding definitive agreement
- Fiore Cannabis is focused on becoming a Canadian-American Multi-State Operator
- Fiore Cannabis Ltd. (FIOR) opened trading at C$0.03 per share
Fiore Cannabis (FIOR) has signed a non-binding term sheet for up to C$30 million in financing.
The term sheet is expected to be entered into within 30 days.
In accordance with the term sheet, common shares of Fiore will be issued in tranches at the over the 36-month term of the agreement.
Fiore will use the proceeds to support its expansion strategy.
Unified Global recently joined Fiore. The Fiore and Unified Global combination is focused on closing up to 41 retail cannabis retail locations and cultivation facilities in Colorado, Oregon and Alberta to create the first Canadian-American Multi-State Operator (Can-Am MSO).
Paul Lufkin, Executive Chairman and CEO of Unified Global commented on the news.
“We are actively growing our company as we look to consolidate profitable cannabis operators and generate enhanced options for cannabis entrepreneurs and investors. We have built out an acquisition and integration program infrastructure along with financing relationships for these transactions, and we’re currently working with a US$200+ million pipeline of M&A opportunities. This flexible financing option can play a vital role in providing us the dry powder to continue executing on our growth strategy and to drive shareholder value.”
Additional information concerning the financing once the parties have entered into a binding definitive agreement.
Fiore Cannabis is focused on becoming a Canadian-American Multi-State Operator by acquiring and consolidating cannabis operations in select cannabis markets.
Fiore Cannabis Ltd. (FIOR) opened trading at C$0.03 per share.
