Tidal Royalty Corp 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.
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.
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