True Leaf Medicine International Ltd (CSE:MJ) (OTCMKTS:TRLFF) said Thursday that it received nearly C$1 million from exercising warrants.
The Vernon, British Columbia-based cannabis and hemp wellness brand for pets said it exercised more than 2.5 million warrants at a strike price of C$0.355 to raise C$914,422. The warrants were set to expire on April 21.
CEO Darcy Bomford said the capital infusion will help the company expand operations globally, among other uses.
READ: True Leaf Medicine grows footprint with new brand identity, expands pet product line
“This additional capital will strengthen our balance sheet and allow us to continue to execute on our growth plans, including bringing a legally-compliant CBD product for pets to market and expanding our global distribution, including entering new markets in the Asia Pacific region and Australia,” he said in a statement.
True Leaf’s products include advanced formulas of its hemp-based Calming Support and Hip + Joint Support chews and oil supplements. The company’s proprietary formulations combine therapeutic hemp with ingredients such as Omega-3, DHA and EPA from seafood and plants.
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