Grown Rogue International Inc. (“Grown Rogue”), a multi-state cannabis company with operations and assets in Oregon and Michigan, announced investments in its subsidiaries totaled US$1,150,000. The investments are a combination of debt and equity, with three different financial instruments, into operating and non-operating subsidiaries of the Company. Grown Rogue sold 9.375 units of a non-operating subsidiary for US$40,000 each for total proceeds of US$375,000. The unitholders have the future right to convert their units in the subsidiary into common shares of the Company at the greater of C$0.20 or the maximum permitted discount under the policies of the Canadian Securities Exchange at the time of conversion. Grown Rogue’s non-operating subsidiary issued an unsecured promissory note in the amount of US$125,000. Terms of the note include 10% interest, payable monthly, and a 3-year maturity.
Mmp News Author, Medical Marijuana Program Connection, 12/08/2020 09:56:00