GreenTec Holdings Ltd. ("GreenTec") completed a private placement of 8% senior secured convertible debentures units for aggregate gross proceeds of $5,000,000 (the "Offering"). The Offering was led by PI Financial Corp. as the lead agent and XIB Asset Management Inc. (together, the "Agents) and was completed in connection with the proposed business combination between GreenTec and Black Birch Capital Acquisition III Corp. (TSXV: BBC.H) announced on February 6, 2018. Minden Gross LLP acted for GreenTec with a team led by Andrew Elbaz (Partner) – Securities and Capital Markets; Alexandra (Sasha) Toten (Associate) – Securities and Capital Markets; and Matt Maurer (Chair, Cannabis Law Group).
GreenTec Holdings Ltd. was founded in 2017 to capitalize on opportunities in the nascent and rapidly growing legal cannabis industry. GreenTec is a private corporation based in Kelowna, BC. and is focused on growing premium quality craft cannabis in purpose-built indoor facilities. The Company currently holds more than 23,000,000 square feet of potential expansion capacity throughout Canada, holding a 100% interest in each of GreenTec Bio-Pharmaceuticals Corp., Grey Bruce Farms Inc., Zenalytic Laboratories Ltd., Falcon Ridge Naturals Ltd., Alberta Craft Cannabis Inc. (formerly Grenex Pharms Inc.), and Tumbleweed Farms Corp.
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