Hemp and CBD trading and distribution company based in Phoenix 1606 Corp has raised up to $20 million Through an equity financing agreement with GHS Investments.
According to a press release, 1606 will use the funds for acquisitions.
“This $20 million in financing will allow us to acquire profitable CBD businesses and will be a great investment opportunity for investors around the world,” Greg Lambrecht, CEO and President of 1606 said in a statement.
GHS Investments buys shares in 1606 at 80% of the market price.
After 1606 bullish listings from over-the-counter markets – where they are traded as CBDW – For a larger stock exchange such as Nasdaq, the purchase price will increase to 90% of the market price, subject to a minimum of $2 per share.
Below, the company will not offer any rollout options.
Read the full article at Marijuana Business Daily