Lowell Farms Inc. Announces Closing Of $4.2 Million Convertible Debenture Financing
Amount Raised
$4.2 Million
Round Type
Seed
CaliforniaManufacturingAgriculture and FarmingCannabisDescription
Lowell Farms Inc. (the “Company”) (CSE: LOWL; OTCQX: LOWLF), a California-born innovator in cannabis cultivation and maker of the legendary brand Lowell Smokes, along with its subsidiary, Indus Holding Company ("Subco"), has issued an aggregate of $4.2 million of senior secured convertible debentures ("2022 Convertible Debentures") of Subco, which are convertible, as more fully described below, into an aggregate of 18.2 million subordinate voting shares of the Company ("Subordinate Voting Shares") with respect to principal and additional Subordinate Voting Shares upon conversion of accrued and unpaid interest. Investors in the 2022 Convertible Debentures received warrants of the Company ("2022 Warrants") to purchase an aggregate of 18.2 million Subordinate Voting Shares and warrants of Subco ("Subco Warrants") to purchase an aggregate of 27.3 million non-voting common shares ("Subco Shares") of Subco. The Company has received investor commitments for the purchase of an additional $2.5 million in 2022 Convertible Debentures.
Quick answer
Lowell Farms raised $4.2 Million in a Seed round, dated August 19, 2022. Lowell Farms is based in California, United States.
- How much did Lowell Farms raise?
- Lowell Farms raised $4.2 Million in a Seed round on August 19, 2022.
- What does Lowell Farms do?
- Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) is a California-based cannabis company with advanced production capabilities supporting the supply chain, including extraction, manufacturing, brand sales, marketing, and..
- Where is Lowell Farms based and how big is it?
- Lowell Farms is based in California, United States.
- Who are the decision-makers at Lowell Farms?
- Fundz holds 1 contact at Lowell Farms. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Agriculture and Farming and Cannabis around the same time
Companies in the same sectors as Lowell Farms that raised within 45 days of this round, from Fundz verified event records.
- AmmPower Corp raised $19K (Seed) on September 26, 2022.
- DVM Systems raised $139K on September 20, 2022.
- Open Book Extracts raised an undisclosed amount (Series C) on September 15, 2022.
- NOXX raised $15M (Funding Round) on August 31, 2022.
- The 1937 Group raised $17M (Funding Round) on August 30, 2022.
- IronCraft raised an undisclosed amount (Funding Round) on August 26, 2022.
Who to call at Lowell Farms, and when
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