A U.S. investment fund has cemented its second deal with a Canadian cannabis grower this month.
Dutchess Opportunity Fund II will provide a $30 million equity line facility to Canadian marijuana cultivator Affinor Growers, signaling that international cooperation between cannabis companies is reaching new heights.
Under the deal, Affinor will file a registration with the U.S. Securities and Exchange Commission to cover shares that may be issued to Dutchess as part of the deal. Following SEC approval of the arrangement, Affinor will be able to sell up to $30 million in common stock over a three-year period.
Affinor plans to use the investment to finance a cannabis greenhouse in Quebec and will focus on mass production of MMJ.
The move comes after a similar equity line deal with British Columbia-based Abattis Bioceuticals Corp., which focuses on cultivating and testing medical cannabis.