Cannasouth has announced the launch of a wholesale offer of secured convertible notes, as it seeks to raise up to $5 million.
The company has issued an additional $1,081,500 of notes, bringing the total amount issued to $2,111,500.
The new tranche of notes has a maturity date of 24 months from the date of their issue.
The investors in the notes are current CBD shareholders and wholesale investors.
These notes, along with the capital received from a recent rights issue, will be used to fund Cannasouth's working capital requirements.
The company is also in discussions with other wholesale and eligible investors about participating in the notes offer.
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