Valens GroWorks (CSE:VGW)(CSE:VGW.CN) (the “Company” or “Valens“), a vertically integrated provider of cannabis products, is pleased to announce the closing of an additional 85,000 units (the “Units”) for proceeds of $85,000, the final tranche of its non-brokered $1.00 per Unit private placement (the “Offering”) first announced on July 26, 2017. The Offering raised a total of $3,335,615.
Proceeds from the Offering settled significant secured debt owing to the founding shareholders of wholly-owned subsidiary Valens Agritech, incurred during the original 17,000 sf facility buildout. Insiders subscribed for an aggregate of 3,250,615 Units from the Offering, all in the initial tranche that closed on August 26. The Company