CBD company HempFusion Wellness Inc. (TSX:CBD) (OTCQB:CBDHF) (FWB:8OO) plans to raise up to $3.0 million via brokered private placement offering led by Research Capital Corporation.
Under the offering, the company will offer up to 3,000 convertible debenture units at the issue price of $1,000 per convertible debenture unit for gross proceeds of up to $3.0 million. Each convertible debenture unit will be comprised of: US$1,000 principal amount of 10% senior secured convertible debentures of the company which will be convertible into common shares of the company at a conversion price of $0.15 per common share, subject to adjustment in certain events and maturing on the date that is three years from the date the convertible debenture units are issued and 3,333 common share purchase warrants of the company. Each warrant will entitle the holder thereof to purchase one common share at a price of $0.20 per common share until the maturity date.
