American Cannabis Company Announces a $5 Million Fixed Funding Commitment
- June 24, 2016
- Posted by: Terry Buffalo
- Category: Funding trends
|American Cannabis Company Announces a $5 Million Fixed Funding Commitment|
DENVER, CO–(Marketwired – Jun 24, 2016) – American Cannabis Company, Inc. (OTCQB: AMMJ) (the “Company”), a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, today announced that it has signed an investment agreement with Tangiers Global LLC (“Tangiers”) for a fixed funding equity commitment of up to $5 million. The closing is subject to an effective registration statement. Concurrent with execution of the investment agreement, the Company also entered into a bridge loan facility of up to $330,000 pursuant to which it issued an 8% fixed price convertible promissory note due February 14, 2017.
Proceeds of both the bridge loan and equity facilities may be used for working capital purposes and to pursue acquisition or other strategic opportunities.
Corey Hollister, President and CEO of American Cannabis Company, commented: “We are extremely excited to have Tangiers as a financial partner for American Cannabis Company. They understand the history of American Cannabis Company, our clear vision for the future and the enormous market within our reach, as reflected by this substantial commitment.”
A senior representative of Tangiers stated: ” American Cannabis Company, Inc. has assembled a top tier management team and is executing on a dynamic business model in an industry that is rapidly growing. We’re excited to be partnered with them as they expand their footprint, innovate new products and position themselves as a leader in the space. We are committed to ensuring that their capital needs are met along the way.”
About American Cannabis Company, Inc.:
American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis industry. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. Through our two vertically integrated businesses, American Cannabis Consulting and American Cultivator Company, a group purchasing organization, we support our clients from concept to creation to commercialization to on-going operations. For more information, please visit:www.americancannabiscompanyinc.com.
About Tangiers Global LLC
Originally founded in 2006, the Tangiers family of funds provides working and expansion capital to small and microcap public companies through a variety of investment structures, including the new multi-million dollar Fixed Funding Commitment™. Tangiers prides itself on building long term relationships with client companies to ensure that they have the resources necessary to propel their growth year after year.
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based drugs. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
|Communicate with management|
|Jun 24, 2016|