American Cannabis Co. said it has secured $5 million in funding after Tangiers Global agreed to take an equity stake for that amount in the Denver company.
American Cannabis – a marijuana consultancy and seller of ancillary products ranging from lighting to watering systems – also lined up a $330,000 bridge loan from Tangiers Global, which is based in Cheyenne, Wyoming.
In a news release, American Cannabis said it will use the money from the equity stake and the bridge loan “for working capital purposes and to pursue acquisition or other strategic opportunities.”
The closing is subject to the filing of a registration statement with the Securities and Exchange Commission. American Cannabis trades on the ove-the-counter market under the ticker symbol AMMJ.
Tangiers Global’s previous investments include $5 million in April for Grow Condos in Oregon, a cannabis cultivation related company, and $5 million in 2011 for the Lingerie Fighting Championships. The company invests in microcap public companies.