Now, this total gross income comes in based on Wheaton Income Corps. the closing announcement on their disclosed private placement of convertible debenture units. By raising $1,000,000 through a set price of $1,000 per Convertible Debenture Unit, the whole Million dollar count will go towards the corporate and working capital.
From CEO and Chairman Chuck Rifici “Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.“
Overall there is a subject 4 month holding period and that’s based under the security issues under the offering.
On the upside, this company statement is seen as a “forward-looking information” approach.
Also the funding will not be limited to Wheaton’s streaming partners. Of course this with certain streaming agreements between general and administrative morale.