MPX Bioceutical Corporation (CSE:MPX; OTC:MPXEF) announced the completion of a US$40 million secured convertible original issue discount loan financing.

As quoted in the press release:


While non-interest bearing, the Convertible Loan has been issued at a discount price of US$812.06 per US$1,000 of principal and will accrue value at a rate of 7 [percent] per annum compounding on a quarterly basis until the Maturity Date. The Convertible Loan has been issued through a wholly-owned Luxembourg subsidiary of MPX (“MPX Luxembourg”).

Use of Proceeds

The proceeds of the Offering will be used primarily for accretive activities including capacity expansion, acquisitions, and to support activities involved with securing new cannabis extraction, production and dispensary licenses in various jurisdictions in both the United States and Canada.

In addition, US$9,500,000 will be reserved for payment of the seller notes due on June 30, 2018 in respect of the acquisition of 99 [percent] of the membership units of GreenMart of Nevada NLV, LLC in December 2017.

“The pace of growth in our industry continues to accelerate with several U.S. states launching new cannabis legalization programs, the Canadian provinces designing and implementing retailing initiatives and acquisition opportunities arising on both sides of the border and, indeed globally. We have been introduced to multiple expansion opportunities and will be providing our shareholders and the market with an update on our progress on several of these in the next few days,” says W. Scott Boyes, Chairman, President and CEO of MPX.

Click here to read the full press release.

Source: globenewswire.com

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

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The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

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The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

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  • On November 19 , the Mexican Senate passed comprehensive adult-use cannabis legalization, moving Mexico towards becoming one of the few countries to legalize cannabis nationally
  • On March 31, 2020 , the Company entered into an agreement with Tecnologico de Monterrey , the leading university in Mexico , to educate physicians across Latin America , in advance of the impending regulations in Mexico
  • To date, close to 550 LatAm physicians have obtained their diploma accrediting completion of Khiron’s medical education program
  • The Company plans to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico , building on the success of its vertical integration strategy in Colombia
  • Expanding the Zerenia clinic strategy will build on the Company’s Colombia knowledge and proven distribution capabilities, with rapid telehealth service adoption and over 5,600 medical cannabis scripts filled to date
  • Mexico represents one of the largest potential markets for medical cannabis in the world and is anticipated to reach $1.2bn USD by 2028 (Prohibition Partners).
  • Company to release Q3 2020 financials and host webcast on Tuesday, December 1st

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe welcomes the passing of adult-use cannabis legislation by the Mexican Senate, which moves the country closer to a legalized cannabis market, and towards provision for medical cannabis products.  Khiron has had a presence in Mexico since 2018 and has been working with doctors and medical institutions to develop a deep understanding of the market.

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