Source: High Yields
  • Sugarbud Craft Growers Corp. (SUGR) has closed the first tranche of its marketed public offering of convertible debenture units
  • The company issued 848 debenture units for gross proceeds of $848,000
  • Each debenture unit will consist of one 12.0 per cent secured convertible debenture and 1000 common share purchase warrants
  • Sugarbud is a leading craft cannabis company focused on the cultivation and production of cannabis products
  • Sugarbud Craft Growers Corp. (SUGR) is down 5.56 per cent on the day, trading at C$0.85 per share at 2 pm ET

Sugarbud Craft Growers Corp. (SUGR) has closed the first tranche of its previously-announced marketed public offering of convertible debenture units.

The company issued 848 debenture units for gross proceeds of $848,000. Each debenture unit will consist of one 12.0 per cent secured convertible debenture and 1000 common share purchase warrants.

Each warrant will entitle the holder to purchase one common share for a period of 5 years following the closing of the offering.

Debenture holders may elect to exchange their debentures for 15.0 per cent non-convertible secured notes.

The debentures will mature 5 years from the closing of the offering.

The debentures will bear interest at a rate of 12.0 per cent per annum from the date of issue, payable on a semi-annual basis in common shares or cash.

Sugarbud is a leading craft cannabis company focused on the cultivation and production of cannabis products.

Sugarbud Craft Growers Corp. (SUGR) opened trading at C$1.39 per share.

Sugarbud Craft Growers Corp. (SUGR) is down 5.56 per cent on the day, trading at C$0.85 per share at 2 pm ET.

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