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CanadaBis Capital, Inc. ( (TSE:CANB) ) just unveiled an update.
CanadaBis Capital Inc. has announced an increase in its brokered private placement of unsecured convertible debentures to $4.5 million due to strong investor demand. The debentures, which bear an interest rate of 11% per annum and are convertible into common shares, will mature 48 months from the closing date. This financing move is part of CanadaBis’s strategy to expand its operations, and it coincides with a planned arrangement with Simply Solventless Concentrates Ltd., though the financing is not contingent on this arrangement. The announcement highlights CanadaBis’s efforts to strengthen its financial position and expand its market presence in the cannabis industry.
More about CanadaBis Capital, Inc.
CanadaBis Capital Inc. is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the global cannabis market, with a particular emphasis on supplying the fast-emerging concentrates category through their Stigma Grow cultivation and BHO extraction facility.
YTD Price Performance: 58.33%
Average Trading Volume: 184,034
Technical Sentiment Signal: Sell
Current Market Cap: C$13.13M
For a thorough assessment of CANB stock, go to TipRanks’ Stock Analysis page.