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by Stockwatch Business Reporter
The TSX Venture Exchange slipped one-half point to 802.10Thursday. Paul Haber's halted Black Birch Capital Acquisition III Corp. (BBC) has an update on its qualifying transaction (see Shell Summary for Feb. 6, 2018). The company's QT target, GreenTec Holdings Ltd., has arranged a $5-million debenture financing with PI Financial Corp. This is in addition to the $7.8-million debenture financing GreenTec arranged in February, also with PI Financial. The target is good at raising money. It sold $11.53-million worth of 60-cent units in January and $4.67-million worth of 20-cents units last year. If it closes the two debenture financings, it will have raised a total of $29-million.
GreenTec has been using the money to acquire a handful of marijuana growing hopefuls. They comprise GrenEx Pharms of Edmonton, Alta., Tumbleweed Farms of Chase, B.C., Grey Bruce Farms of Kincardine, Ont., GreenTec Bio-Pharmaceuticals of Kelowna, B.C., and Falcon Ridge Farms of Kelowna. GrenEx is the only company ready to begin cultivation, having obtained its licence to grow. It awaits its licence to sell. Falcon Ridge is also cultivating, but not marijuana. It is busy growing vegetables Echinacea, and garlic bulbs. It also makes money as a summer wedding venue.
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