CNW Group4 months ago
VANCOUVER , Jan. 18, 2019 /CNW/ - Hempco Food and Fiber Inc. (HEMP.V) ("Hempco®" or the "Company") is pleased to announce it has completed an agreement with Aurora Cannabis Inc. ("Aurora") for a non-brokered, private placement of a C$5 million non-transferable, secured, convertible debenture. The debenture will mature on the second anniversary of the date of issue. Aurora will have the right to convert the principal balance into common shares of Hempco (each, a "Hempco Share") at a conversion price of $1.18 per Hempco Share. At Aurora's election, it may also convert the simple interest into Hempco Shares at a conversion price equal to the market price for Hempco Shares in effect on the date of the notice of conversion.