Eden Empire closes oversubscribed
$7 million convertible debenture
private placement

1 minute read
29 August 2019

On Aug. 29, 2019, cannabis retail firm Eden Empire Inc. closed an oversubscribed $7 million convertible debenture private placement.

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.

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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