Convertible promissory notes due Oct. 31, 2018 sold through offering
By Devika Patel
Knoxville, Tenn., Jan. 31 - Advanced Cannabis Solutions, Inc. settled a $1.61 million private placement of convertible promissory notes on Jan. 29, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 12% notes convert to common stock at $5.00 per share. The notes mature on Oct. 31, 2018.
The private Colorado Springs company rents growing space and facilities to licensed marijuana growers and dispensary owners.
| Issuer: | Advanced Cannabis Solutions, Inc.
|
| Issue: | Convertible promissory notes
|
| Amount: | $1,605,000
|
| Maturity: | Oct. 31, 2018
|
| Coupon: | 12%
|
| Conversion price: | $5.00
|
| Warrants: | No
|
| Pricing date: | Jan. 29
|
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