World Class Extractions to invest $3 million in Alkaline Spring
By Akshay Kedari  Date: 2019-04-09

World Class Extractions to invest $3 million in Alkaline Spring

World Class has rights to refuse the supply of any hemp or cannabis extracts required in the business of Alkaline Spring.

World Class Extractions Inc. has reportedly announced that it has signed an agreement to invest up to $3 million in Alberta-based Alkaline Spring Inc., a privately-held natural alkaline water company, by way of a private placement. World Class Extractions has invested $2 million in consideration for 11,111,111 common share purchase warrants, 2,000 senior secured convertible debentures of Alkaline Spring, and acquired certain investor rights.

According to the press release by World-Class Extractions, the company would increase its level of engagement with stakeholders, potential institutional and retail investors. It has also engaged investor relations companies to help itself with investor relations and shareholder communications services to communicate its message across a broad range of Canadian investors.

The Alkaline Debentures will be reportedly matured in two years. The debentures have been priced at $1,000 per debenture and bear interest rate at 9 percent per annum. The debentures are convertible into common stake of Alkaline Spring at an initial cost of $0.18 per share, subjected to downward adjustment in certain circumstances.  All the Alkaline Warrants are exercisable into one further share at $0.25 for three years.

World Class has reportedly acquired certain rights to refuse the supply of any hemp or cannabis extracts required in the business of Alkaline Spring. The company can license future formulations of planned cannabis and hemp infused waters of Alkaline Spring and, sell and market its products on white label basis in certain market except Canada. It can also appoint two directors to the board of Alkaline Spring.

Ascension Millionaires Club Inc. and Hybrid Financial Ltd. will assist World Class to enhance market awareness and foster productive dialogues with stakeholders and other market participants.

Hybrid will assist World Class for a term of 6 months in its marketing campaign and will be paid a monthly fee of $15,000. Ascension will help the company with investor relations and communication services for 12 months and will be paid $10,000 monthly.

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

RADCOM introduces automated assurance solution for 5G technology
RADCOM introduces automated assurance solution for 5G technology
By Akshay Kedari

5G technology has been in the headlines for quite a while. Next-generation technology has the potential to transform almost every sector across the world. However, as 5G becomes reality, it has become imperative for service providers to prevent degra...

Sprout to expand wellness solutions lineup by acquiring Vivametrica
Sprout to expand wellness solutions lineup by acquiring Vivametrica
By Akshay Kedari

Sprout, a Canadian company that focuses on delivering innovative solutions for workplace wellbeing, has recently announced the acquisition of predictive health data analytics firm, Vivametrica. According to reliable sources, Sprout plans to enhance t...

Uber halts decision to shift APAC headquarters from Singapore
Uber halts decision to shift APAC headquarters from Singapore
By Akshay Kedari

Uber Technologies Inc., the American ride-hailing giant, has reportedly halted the company’s decision to relocate its Asia Pacific headquarters from Singapore to Hong Kong until December 2022. Sources cite that the company’s decision was...

PCI Pharma extends global clinical supply-chain services in Europe
PCI Pharma extends global clinical supply-chain services in Europe
By Akshay Kedari

U.S. based biopharmaceutical and pharma outsourcing services company, PCI Pharma services has reportedly announced that it reached a noteworthy milestone through the development of COE (Clinical Center of Excellence) in Berlin. According to credible...

Dassault to use Proxem’s AI solution to advance 3DEXPERIENCE platform
Dassault to use Proxem’s AI solution to advance 3DEXPERIENCE platform
By Akshay Kedari

French software company, Dassault Systèmes has recently revealed plans to enhance its 3DEXPERIENCE platform’s collaborative data science abilities, allowing customers to take advantage of their data patrimony by taking part in new v...