Cannabis Science Pioneer Tikun Olam Announces Closing of $7 Million Convertible Promissory Notes Financing
NEW YORK, NY (March 9, 2018) – Tikun Olam USA, the world pioneer in cannabis research, is pleased to announce the closing of a $7,000,000 offering of 6% convertible promissory notes (the “Notes”), maturing in March 2019.
Proceeds from the Notes, issued by T.O. Global LLC, a New York limited liability company (the “Company”), will be used for product research and development, enhancing and protecting intellectual property, patient studies and trials, advertising and marketing of the Company’s brand, payment of corporate, organizational and transactional expenses, repayment of indebtedness to a related party, and working capital and general corporate purposes.
This financing underpins