Eden Empire closes $7 million convertible debenture private placement and enters into agreement to acquire up to 7 retail cannabis dispensaries in British Columbia

30 June 2019

During the first half of 2019, cannabis retail firm Eden Empire Inc. closed a $7 million convertible debenture private placement and entered into an agreement to acquire up to seven private non-medical cannabis retail stores in British Columbia.

The non-transferable 10% secured debentures are automatically convertible into common shares of Eden upon completion of a liquidity event, at a price of $0.30 per common share for a period of 18 months.

Proceeds of the offering will be used to fund retail store acquisitions in British Columbia, store upgrades and for strategic acquisition opportunities as well as for general working capital purposes.

Eden is a private company formed and existing in the province of British Columbia with an award winning and established nationwide cannabis brand, a substantial IP portfolio, and a dedicated management team with over 20 years of combined industry experience.June 28, 2019

Gowling WLG advised Eden Empire with respect to this private placement with a team that included Denis Silva, Maya Stano, Jill Dunn and Anita Yuk.


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