Cannabis Wheaton Income Corp. (TSX.V:CBW) announced this week that the company has entered into an agreement BMO Capital and a collection of different funding groups to offer 71,500,000 units of the company at C$1.40 per Unit, to raise a total of C$100 million. Under the terms of the deal each unit is worth one common share of Cannabis Wheaton and one-half of one common share purchase warrant.
Cannabis Wheaton income Corp. provides financing to companies involved in the cultivation, processing, and distribution of cannabis in Canada. The company provide the necessary capital to growing companies in order to allow them to expand operations, allowing Cannabis Wheaton to receive a small percentage of equity in return.
The company also provides ancillary services to the industry such as construction management for cultivation and processing facilities, assistance with brand awareness, legal guidance, and provides medicinal cannabis patient growth strategy.
The company plans to use the proceeds from the C$100 million capital raise for disbursement of funds to new partners and to grow the company’s international operations.