VANCOUVER, July 12, 2019 /PRNewswire/ – Cannara Biotech Inc. (the “Corporation” or “Cannara”) (CSE: LOVE) (FRA: 8CB) (OTCMKTS: LOVFF), an emerging vertically integrated cannabis company focused on cultivation, and cannabis-infused products, is pleased to announce that it has raised $2,160,000 by way of non-brokered private placement of common shares of the Corporation (each a “Common Share” and collectively, the “Common Shares”) at a price of $0.18 per Common Share (the “Offering”). The net proceeds from the Offering shall be used for general corporate purposes including the ongoing build-out at Cannara’s facility and to provide additional working capital.
The Offering is expected to close on or about July 20, 2019 (the “Closing Date”) and remains subject to approval of the Canadian Securities Exchange.