Connect with us

Cannabis

BioHarvest Sciences Inc. Announces Closing of the Second Tranche of Private Placement of Convertible Notes and Expects the Offering to Be Oversubscribed and to Close an Additional Tranche of up to $3 Million by December 15, 2022

Published

on

This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

Vancouver, British Columbia and Rehovot, Israel–(Newsfile Corp. – November 15, 2022) – BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) (“BioHarvest” or the “Company”) is pleased to announce that it has closed the second tranche (the “Second Tranche”) of its non-brokered private placement of convertible notes (the “Notes”) previously announced on October 7, 2022. Due to the significant demand for this offering, the Company expects the offering to be oversubscribed and to close an additional tranche of up to $3 Million CAD by December 15, 2022, subject to regulatory approvals. Under the Second Tranche, the Company has issued Notes in the aggregate principal amount of $2,612,742.28 CAD. With the closing of this tranche the aggregate amount raised under the offering to date is $ 9,490,985.94.

The Notes issued under the Second Tranche, and any Common Shares issuable upon conversion of such Notes, are subject to a four month and one day hold expiring March 16, 2023.

About BioHarvest Sciences Inc.

Based in Vancouver, BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent-protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company’s technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.’s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit: www.bioharvest.com.

BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer

For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: [email protected]

Twitter: https://twitter.com/bioharvestbhsc
Facebook: https://www.facebook.com/BioHarvestSciences
LinkedIn: https://www.linkedin.com/company/bioharvestsciences/
YouTube: https://www.youtube.com/channel/UCGRJWztmLoycsLFWqwXAzAw

Forward-Looking Statements

Information set forth in this news release includes forward-looking statements that are based on management’s current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144377

Cannabis

Hemp, Inc. Reports: Hemp-Based Foods Market Set to Reach $8.36 Billion by 2028

Published

on

Continue Reading

Cannabis

Solei Brand Launches New Cannabis Infused Cold Brew Teas

Published

on

Continue Reading

Cannabis

Proton Capital Enters Into Agreement to Purchase PharmaChoice Canada Branded Pharmacy In Saskatoon For Proposed Qualifying Transaction

Published

on

Continue Reading

Trending on Grassnews

GrassNews.net: Your premier portal for the latest developments in the cannabis industry. We provide timely news, insightful analysis, and in-depth features on everything from legislation changes and business trends, to scientific research and lifestyle topics. Stay informed and navigate the rapidly evolving cannabis landscape with GrassNews.net..

Contact us: [email protected]

Editorial / PR Submissions

Copyright © 2007 - 2024 Hipther Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania