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CannaVest Closes $6,500,000 Financing With Institutional Investor and Restructures Commitments to Supplier

Submitted by Marijuana News on Wed, 05/27/2015 - 09:18

CannaVest Corp. (OTCQB: CANV), a leading manufacturer and distributor of hemp, cannabis derivative, and Cannabidiol (CBD) based products, today announced that it has closed a $6,500,000 financing with an institutional investor, which will provide CannaVest with additional working capital as it continues to rapidly expand its customer base and sales channel. As more particularly set forth in CannaVest's Form 8-K filed with the Securities and Exchange Commission on May 21, 2015, the financing is structured in tranches, where CannaVest will receive four tranches of $500,000 each, and a final two tranches of $2.25 million upon the effectiveness of its registration statement to be filed with the SEC seeking to register the shares issuable under the financing.

CannaVest's Chairman and Chief Executive Officer, Michael Mona, Jr., stated, "We very carefully selected our partner in this financing, and after talking with multiple investors interested in our company, we selected the investor willing...

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http://money.cnn.com/news/newsfeeds/articles/marketwire/11G042550-001.htm

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