logo-loader
Tidal Royalty Corp.

Tidal Royalty to fund Illinois cannabis company with up to US$41mln

Tidal Royalty Corp. (CSE:RLTY) (OTC:TDRYF) CEO Paul Rosen tells Proactive Investors that the company has secured a letter of intent with a cannabis company in Illinois to provide the licensed operator with up to US$41mln in financing.

The group, which provides cannabis companies in the US with financing in exchange for a share of future revenues, said the Illinois firm will use the funds to expand its operations and make strategic acquisitions.The company will receive 15% of its top-line revenue, and will purchase the Illinois cannabis company's common shares at an agreed-upon valuation.

Rosen is in New York talking to investors about Tidal's offerings. He is the former CEO of The Cronos Group, the first the first licensed cannabis producer to list on a major stock exchange in the United States.

Quick facts: Tidal Royalty Corp.

Price: $0.26

Market: CSE
Market Cap: $75.96 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tidal Royalty Corp. named herein, including the promotion by the Company of Tidal Royalty Corp. in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read