Canadian Bioceutical Engages Greenlight Capital to Assist With New Financing

The Canadian Bioceutical Corporation (TSXV:BCC) announced that it has entered into a consulting agreement with 1588169 Ontario Inc. o/a as Greenlight Capital (GLC) whereby GLC will source and introduce financing candidates to the company, on a non-exclusive basis, to provide additional equity or convertible debt private placement financing.

As quoted in the press release:

The proposed financing is anticipated to range between $2,750,000 to $4,000,000 and will be under terms competitive with, or more favourable to BCC, than its most recent round of financing which closed on June 4, 2015. The agreement calls for the financing transaction to be consummated no later than August 1, 2015.

Proceeds of the financing will be used to purchase security apparatus and cultivation equipment and to further build out BCC’s proposed medical marijuana production facility in Owen Sound, Ontario.

Additional details in relation to BCC’s plan to enter into the medical marijuana sector may be found in the company’s two News Releases of January 7, 2015 with the most recent update provided in BCC’s News Release of May 11, 2015.

Click here to read the full The Canadian Bioceutical Corporation (TSXV:BCC) press release.