TORONTO, ON / ACCESSWIRE / January 5, 2021 / Trichome Financial Corp. (the “Company” or “Trichome Financial”) (CSE:TFC) today announced the accelerated conversion of its Convertible Debentures issued on August 7, 2020 (the “Convertible Debentures”). According to the terms of the Convertible Debentures, the Company has the option to accelerate conversion of the Convertible Debentures into common shares of the Company should the 20-day volume-weighted average price of its common shares exceed $1.69, which condition has been achieved. The conversion of the Convertible Debentures is expected to result in the issuance of approximately 4.8 million common shares of Trichome Financial.
As previously disclosed, the holders of approximately 75% of the aggregate principal amount of the Convertible Debentures have entered into support and voting agreements pursuant to which they agreed to vote in favour of the Company’s acquisition by IM Cannabis Corp. The common shares issuable on conversion of the debentures remain subject to the support and voting agreements.
About Trichome Financial Corp.
Trichome Financial is a specialty finance company focused on providing flexible and creative capital solutions to the global legal cannabis market. Trichome was created to address the lack of credit availability in the large, growing and increasingly complex cannabis market. Trichome Financial’s experienced founders and management team have a unique edge to capitalize on proprietary deal flow and industry insight in order to drive the best risk-adjusted returns on shareholder’s capital. With the recent acquisition of the assets of James E. Wagner Cultivation Corp., Trichome Financial is focused on acquiring related assets to compliment JWC and leverage the knowledge, expertise and insights of its employees, management and founders.
For further information about Trichome Financial please visit us at www.trichomefinancial.com or @trichomefinance on Twitter and refer to the joint information circular of Trichome Financial and 22 Capital dated May 29, 2019 which is available on the Company’s SEDAR profile at www.sedar.com.