Further Convertible Notes Issue

Cannasouth Limited (NZX:CBD) launched a wholesale offer of secured convertible notes (“Notes”) to raise up to $5 million (See NZX announcement of 2 November 2023).

Today the Company announces the issue of a further $1,081,500 of Notes. The Notes have been issued on the same terms as the earlier tranche of Notes issued, save for the fact that the new tranche of Notes has a maturity date of 24 months from the date of their issue. This brings the total amount of Notes issued to date to $2,111,500. The new investors in the Notes are current CBD shareholders and wholesale investors (as that term is defined in the Financial Markets Conduct Act).

These Notes add to the capital received from the recent Rights Issue, which raised just under $1.4 million. In the last two months, Cannasouth has now raised a total of circa $3.45 million, which moneys are being applied towards funding Cannasouth’s working capital requirements.

The Company is having discussions with other wholesale and eligible investors about participating in the Notes offer.

Wholesale and eligible investors wanting to participate in the Note offer should contact the Company.

-ENDS-

For further information visit www.cannasouth.co.nz or contact:

Mark Lucas CEO / Executive Director
Email: [email protected]
Mobile: 021 484 649

Colin Foster
CFO / Company Secretary
Email: [email protected]
Mobile: 027 577 1498

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Announcement PDF