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Bluma Wellness Inc
Symbol BWEL
Shares Issued 106,878,806
Close 2020-07-24 U$ 0.62
Recent Sedar Documents

Bluma issues 4.48 million warrants to AFC Warehouse

2020-07-24 09:47 ET - News Release

Mr. Brady Cobb reports

BLUMA WELLNESS ANNOUNCES ISSUANCE OF WARRANTS TO CONSTRUCTION LENDER

Bluma Wellness Inc. has agreed to issue 4,480,238 non-transferable common share purchase warrants to AFC Warehouse LLC (also known as Advanced Flower Capital) pursuant to the terms and conditions of the existing $15-million (U.S.) non-revolving, staged advance loan between Advanced Flower Capital and CannCure Investments Inc., a subsidiary of the company. The construction loan is being used, in part, to finance the expansion and completion of the company's facilities at the Indiantown greenhouse facility. Each warrant will entitle Advanced Flower Capital to purchase one common share in the capital of the company at an exercise price of 50.2 U.S. cents per common share on or before Feb. 12, 2025, provided that no exercise of a warrant will be permitted if the exercise of such warrant will result in Advanced Flower Capital beneficially owning more than 9.9 per cent of the issued and outstanding common shares. Any underlying common shares issued upon exercise of the warrants will be subject to a statutory hold period that will expire four months and one day from the date of issuance of the warrants in accordance with applicable securities laws.

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