Lots of convertible preferred stock...
$AMBS Emerald Organic Reaches Definitive Agreement for a $5 Million Injection of Private Equity Capital
on March 3, 2020
News
and Tags: Amarantus Bioscience Holdings Inc., Amarantus Bioscience Holdings Inc. News, AMBS, AMBS News, Emerald Organic Products Inc., Emerald Organic Products Inc. News, EMOR, EMOR News
with 0 comments
· Funds will be used to fuel DTC growth and establish national retail presence
· Preferred Stock has fixed conversion price into common shares of $1.60
New York, NY - (NewMediaWire) - March 3, 2020 - Emerald Organic Products, Inc. (OTC: EMOR) (“Emerald” or the “Company”), a diversified health sciences company which includes cannabidiol (“CBD”)-focused products, today announced that it has entered into definitive agreements to receive $5,000,000 in equity capital from Bedrock Group Holdings LLC (“Bedrock”, or the “Investor”). Bedrock is a private equity firm focused on providing growth capital to select emerging growth companies. Under the terms of the agreement, Bedrock will be entitled to covert its $5M in Series C Preferred Stock investment into common shares of the Company at a fixed price of $1.60.
“After working with Emerald Organic’s management team over the last several months, we believe we have finally found the right leadership group to make our first investment in the hemp space,” said J. Roth, Manager of Bedrock. “Similarly to the end of alcohol prohibition in the 1930s, we believe the end of prohibition for hemp has created a unique opportunity to participate in the legal formation of businesses that will help create a new and highly profitable industry for generations to come. Now that we have found the right management team to get behind, we intend to support Emerald with the necessary financing to allow it to make a significant impact in the emerging hemp industry, including potentially providing additional funding beyond this initial injection to support growth and certain strategic initiatives to make Emerald a leading company in the hemp health & wellness space.”
“The funding from Bedrock, a highly regarded private equity firm, represents a significant vote of confidence in our management team’s ability to execute in the challenging emerging hemp industry,” said Ian Parker, Chief Executive Officer of Emerald Organic. “This funding is instrumental to Emerald’s future because it now allows us to confidently accelerate our execution plans and enter highly sought-after retail distribution channels by negotiating distribution agreements with retailers from a position of strength, as well as begin to implement our direct to consumer (DTC) strategy by entering into marketing agreements that can be supported with the necessary capital to bring the Company to significant revenue growth. Additionally, we intend to be opportunistic in terms of acquisitions in order to fortify our position in the industry.”
About Emerald Organic Products Inc.
$AMBS Emerald Organic Reaches Definitive Agreement for a $5 Million Injection of Private Equity Capital
on March 3, 2020
News
and Tags: Amarantus Bioscience Holdings Inc., Amarantus Bioscience Holdings Inc. News, AMBS, AMBS News, Emerald Organic Products Inc., Emerald Organic Products Inc. News, EMOR, EMOR News
with 0 comments
· Funds will be used to fuel DTC growth and establish national retail presence
· Preferred Stock has fixed conversion price into common shares of $1.60
New York, NY - (NewMediaWire) - March 3, 2020 - Emerald Organic Products, Inc. (OTC: EMOR) (“Emerald” or the “Company”), a diversified health sciences company which includes cannabidiol (“CBD”)-focused products, today announced that it has entered into definitive agreements to receive $5,000,000 in equity capital from Bedrock Group Holdings LLC (“Bedrock”, or the “Investor”). Bedrock is a private equity firm focused on providing growth capital to select emerging growth companies. Under the terms of the agreement, Bedrock will be entitled to covert its $5M in Series C Preferred Stock investment into common shares of the Company at a fixed price of $1.60.
“After working with Emerald Organic’s management team over the last several months, we believe we have finally found the right leadership group to make our first investment in the hemp space,” said J. Roth, Manager of Bedrock. “Similarly to the end of alcohol prohibition in the 1930s, we believe the end of prohibition for hemp has created a unique opportunity to participate in the legal formation of businesses that will help create a new and highly profitable industry for generations to come. Now that we have found the right management team to get behind, we intend to support Emerald with the necessary financing to allow it to make a significant impact in the emerging hemp industry, including potentially providing additional funding beyond this initial injection to support growth and certain strategic initiatives to make Emerald a leading company in the hemp health & wellness space.”
“The funding from Bedrock, a highly regarded private equity firm, represents a significant vote of confidence in our management team’s ability to execute in the challenging emerging hemp industry,” said Ian Parker, Chief Executive Officer of Emerald Organic. “This funding is instrumental to Emerald’s future because it now allows us to confidently accelerate our execution plans and enter highly sought-after retail distribution channels by negotiating distribution agreements with retailers from a position of strength, as well as begin to implement our direct to consumer (DTC) strategy by entering into marketing agreements that can be supported with the necessary capital to bring the Company to significant revenue growth. Additionally, we intend to be opportunistic in terms of acquisitions in order to fortify our position in the industry.”
About Emerald Organic Products Inc.
