VANCOUVER, British Columbia, May 02, 2018 (GLOBE NEWSWIRE) — CROP Infrastructure Corp. (the “Company”) (CSE:CROP) (OTC:CIICF) announces that it has closed the previously announced non-brokered private placement for gross proceeds of $4,349,270. (See news release dated April 6, 2018) by issuance of an aggregate of 10,873,175 units. Each $0.40 unit consists of one common share (“Common Shares”) of CROP and one half of one common share purchase warrant (“Warrant”) where each whole Warrant entitles the holder to purchase one additional common share (“Warrant Share”) at an exercise price of $0.55 per Warrant Share for a period of eighteen months following the date of issuance.
The company paid $11,450 in commissions in conjunction with the financing and has issued 26,250 broker warrants exercisable on the same terms as the warrant issued in the financing.
The company has also settled $340,700 of debt in shares at $0.40.
Further the company announces it has appointed Ms. Twila Jensen to the board of directors.
Ms. Jensen is a Senior Capital Markets Strategist with Stockhouse.com, Canada’s leading financial community and a global hub for affluent investors, with over one million unique monthly visitors. Ms. Jensen also acts as an Independent Director for two other TSX Venture Exchange listed companies, Durango Resources Corp. and BTU Metals Corp. Ms. Jensen has over 18 years of experience working in the capital markets within sales and marketing roles, as an independent director and also part of audit committees. She has worked with hundreds of public companies across North America in various sectors over the last two decades.
About CROP Infrastructure Corp.
CROP Infrastructure is engaged in the business of branding, investing, constructing, owning and leasing turnkey greenhouse projects to licensed cannabis producers and processors. The company’s first project and core asset is its Greenhouse project currently under construction in the State of Washington.
For further information, please contact:
CROP Infrastructure Corp.
Alex Horsley, Director