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Wed. 22 Sep 2021, 10:35am ETBenzinga
In: Cannabis, News, Penny Stocks, Financing, Offerings, Markets

Hemp company Green Hygienics Holdings Inc. (OTCQB:GRYN) is about to secure some $100 million in financing through the offering of a green bond exclusively in Europe.

Based in San Diego, the company announced Wednesday that the offering is issued for a five-year term with a yield of 7.25%. In addition, it’s not convertible, and it does not include warrants.

Green Hygienics has engaged the firm of Dechert LLP for the transaction, which is expected to close on or about Nov 30, 2021, or once certain customary closing conditions are satisfied.

The company plans to list the green bond on the Luxembourg Stock Exchange (LuxSE).

A year ago, Green Hygienics hired investment banking firm Boustead Securities LLC to help explore a range of options to boost shareholder value, just months following the receipt of the USDA Organic seal for its acquired 824-acre Sol Valley Ranch, which includes 400,000 square feet of greenhouse space.

In June, the company said it’s looking to distribute its CBD and hemp products in Mexico and Central America through a partnership with Inter Cargo and ABA Cargo.

Shortly after, David Racz, who previously held senior-level positions in Pfizer (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), and Novartis AG (NYSE:NVS), joined Green Hygienics as vice president of global sales and business development.

Photo: Courtesy of Visual Stories || Micheile on Unsplash