Proactive Investors - Run By Investors For Investors

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.

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here  
View full RLTY.U profile View Profile

Tidal Royalty Corp. Timeline

Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use