Cann Group (ASX:CAN) received the full payment of AU$750,000 for the second drawdown from its convertible note facility with Obsidian Global, according to a Friday Australian bourse filing.
The second drawdown was structured in two parts, with the first special purchase funds received on March 5 and the securities issued on March 6. It borrowed AU$150,000 for 95,550 notes and 1.7 million options issued, under the purchase.
The second special purchase was subject to a cleansing prospectus announced on March 12. The offer made under this prospectus closed on March 20. It borrowed AU$600,000 for 385,260 notes and 7.9 million options issued, under the second special purchase. 7 million placement shares were issued.
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